Donor deduction protection preserved even if donee approval or notification is later withdrawn, securing donor tax benefits. Amendments clarify timelines and procedures, extend donor-protection for deductions where donee approvals or notifications are later withdrawn, require audit reports (Form No.10BB) for certain exempt entities exceeding the basic non-chargeable threshold, expand withholding obligations to rent, royalty and specified receipts, tighten payment traceability by requiring account payee instruments, enable Assessing Officer rectification where convertible foreign exchange is subsequently brought into India, revise penalty limitation and revision provisions, and change rounding of tax and refunds to the nearest multiple of ten rupees.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Donor deduction protection preserved even if donee approval or notification is later withdrawn, securing donor tax benefits.
Amendments clarify timelines and procedures, extend donor-protection for deductions where donee approvals or notifications are later withdrawn, require audit reports (Form No.10BB) for certain exempt entities exceeding the basic non-chargeable threshold, expand withholding obligations to rent, royalty and specified receipts, tighten payment traceability by requiring account payee instruments, enable Assessing Officer rectification where convertible foreign exchange is subsequently brought into India, revise penalty limitation and revision provisions, and change rounding of tax and refunds to the nearest multiple of ten rupees.
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