Charitable donation approval: new time bound, digital compliance regime for donor deductions with stricter reporting requirements.
Clause 354(1) creates a reworked approval regime for registered non profit organisations to qualify for donor tax deductions under section 133(1)(b)(ii), requiring application to the Principal Commissioner or Commissioner and satisfaction of specified conditions: non sectarian status, restriction on asset transfer to non charitable purposes, maintenance of regular accounts, filing prescribed statements with correction mechanisms, issuance of standardised donor certificates, and compliance with defined timelines for application, provisional approval and renewal.