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of <h1>Finance Act 2023 amends Section 80G of Income-tax Act; key changes include new approval conditions and provisional approvals.</h1> Section 80G of the Income-tax Act has been amended by the Finance Act, 2023. Effective April 1, 2024, sub-clauses (ii), (iiic), and (iiid) in sub-section (2), clause (a) will be omitted. From October 1, 2023, changes in sub-section (5) include a new clause (iv) in the first proviso, detailing conditions for institutions or funds seeking approval. Amendments to the second proviso involve inserting references to clause (iv) and revising rejection procedures. A new clause (iii) allows provisional approval for three years. Additionally, the term 'first proviso' in the third proviso is replaced with 'second proviso.'
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