Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ----
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    News Bill
    Imposition of penalty for under-reporting or misreporting of income within Assessment Order
    News Bill
    ​​​​​​​Increase in maximum amount of penalty in section 46...
    News Bill
    Rationalisation of tax rate under section 195 and penalty under section 443 in respect of certain In...
    News Bill
    Expanding the scope of immunity from penalty or prosecution under section 440 of the Act
    News Bill
    ​​​​​​​Expanding the scope of immunity from imposition of ...
    News Bill
    Deductions in respect of dividends received and distributed by certain cooperative societies
    News Bill
    Widening scope of deduction under section 149 by including ancilliary activities of cattle feed and ...
    News Bill
    Inclusion of Cooperatives registered under Multi-State Cooperative Societies Act, 2002 in the defini...
    News Bill
    Amendment of section 169 of the Income-tax Act, 2025 relating to providing effect to advance pricing...
    News Bill
    Exemption to a foreign company on any income arising in India by way of procuring data centre servic...
    News Bill
    Allowing expenditure on prospecting of critical minerals as deduction
    News Bill
    Exemption to a foreign company on income arising on account of providing capital equipment etc. to a...
    News Bill
    Exclusion of specified business of Non-residents which are under presumptive taxation from the appli...
    News Bill
    ​​​​​​​Exemption to non-residents for rendering services u...
    News Bill
    Extension of period of deduction for units in IFSC and rationalization of tax rate
    News Bill
    Rationalisation of certain terms for treasury centres in IFSC
    News Bill
    Rationalization of Minimum Alternate Tax provisions
    News Bill
    Rationalisation of TCS rates
    News Bill
    Clarification regarding jurisdiction to issue notice u/s 148 where income has escaped assessment and...
    News Bill
    ​​​​​​​Assessments not to be invalid on ground of any mist...
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Notes
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
News Bill
Show AI Summary
Union Budget changes penalty process: under-reporting penalties imposed within assessment order; interest charged post-appeal, effective April 2027.
Penalties for under-reporting or misreporting are to be imposed within the assessment order to avoid multiple proceedings; consequential amendments align penalty, dispute resolution and recovery provisions. Interest under the tax recovery provision will be charged only after an appellate order by the first appellate authority or tribunal in appeals from dispute resolution forum orders.
News Bill
Show AI Summary
Increase in penalty for failing to comply with tax information requests from business premises to strengthen compliance.
Amendment to section 466 raises the maximum penalty for non-compliance with section 254 information directions from Rs. 1,000 to Rs. 25,000, to enhance deterrence and voluntary compliance. The enhanced sanction is to be imposed by specified tax officers and takes effect from 1 April 2026, applying to tax year 2026-27 and subsequent years.
News Bill
Show AI Summary
Tax on unexplained income cut to 30% and penalty treatment moved into the misreporting under reporting regime.
The proposal reduces the special tax charge on income determined as unexplained under sections 102-106 from 60% to 30% by amending section 195 and omits the standalone 10% penalty under section 443, subsuming penalty treatment into the under reporting/misreporting regime of section 439(11); the changes take effect from 1 April 2026 for tax year 2026-27 and thereafter.
News Bill
Show AI Summary
Union Budget expands taxpayer immunity to misreporting cases, allowing settlement by paying additional tax in lieu of penalty.
Section 440 is to be amended to allow immunity from penalty and prosecution where under reporting arises from misreporting, subject to existing eligibility and procedural conditions. Immunity requires payment of additional income tax equal to 100% of the tax on such income; for income determined as unexplained credits/investments/assets the additional tax payable for immunity is 120%. The amendment is effective 1 April 2026 for tax year 2026 27 onward.
News Bill
Show AI Summary
Amendment expands tax immunity to cover under reporting that results from misreporting, subject to existing procedural conditions.
Amendment extends the existing immunity from penalty and prosecution to cases where under reporting of income results from misreporting, subject to existing conditions: payment of tax and interest within the demand period, no appeal against the assessment, timely filing of an immunity application within one month, and assessing officer decision on the application within three months.
News Bill
Show AI Summary
Cooperative societies: deduction allowed on dividends from other cooperatives in new tax regime; limited federal cooperative relief.
Deduction is extended to dividends received by cooperative societies from other cooperative societies in the new tax regime, limited to amounts distributed to members. Notified federal cooperatives may claim a temporary deduction for dividends from companies for three years, restricted to investments made by the federal cooperative on or before 31.01.2026 and distributed to members. The amendment is effective from 1 April 2026 and applies to the tax year 2026-27 and subsequent years.
News Bill
Show AI Summary
Union Budget expands deduction to include cattle feed and cotton seeds under section 149(2)(b) for primary co operative societies.
Amendment expands section 149(2)(b) to permit full deduction of profits and gains of a primary co-operative society where members supply cattle feed and cotton seeds to a federal co-operative society, Government, local authority, Government company, or corporation engaged in the same business, applying from the tax year beginning 1 April 2026.
News Bill
Show AI Summary
Inclusion of multi-state co-operative societies in the co-operative society definition for tax purposes from April 2026.
Amendment expands the statutory definition of co-operative society to expressly include societies registered under the Multi-State Cooperative Societies Act, 2002, thereby bringing multi state registered cooperatives within the legal category subject to provisions applicable to co-operative societies under the Act.
News Bill
Show AI Summary
Advance pricing agreements now allow associated enterprises to file modified returns within three months for covered tax years.
Where income is modified as a result of an advance pricing agreement entered into with any person, that person or any associated enterprise may furnish a return or modified return limited to the agreement, within three months from the end of the month in which the agreement was entered into, in respect of tax years covered by such agreement entered on or after 1 April 2026 for tax years beginning 1 April 2026 and subsequent tax years.
News Bill
Show AI Summary
Exemption for foreign companies on income from procuring data centre services if routed through an Indian reseller.
A foreign company is exempt from Indian tax on income arising from procuring data centre services from a specified data centre, provided services to India users are routed through an Indian reseller; a specified data centre must be set up under an approved scheme notified by the Ministry of Electronics and Information Technology and be owned and operated by an Indian company; the exemption applies from the tax year beginning 1 April 2026 through the tax year ending 31 March 2047.
News Bill
Show AI Summary
Prospecting of critical minerals now qualifies for deferred tax deduction over ten years under expanded schedule provisions.
The schedule is amended to add critical minerals so that expenditure on prospecting and exploration of those minerals qualifies for the statutory deferred deduction available to resident taxpayers, with such expenses deductible over ten years from the year of commercial production and covering costs incurred in that year and up to four preceding years.
News Bill
Show AI Summary
Exemption for foreign companies' income from supplying capital equipment to contract manufacturers in custom bonded areas.
An exemption is introduced for income of a foreign company from providing capital goods, equipment or tooling to an Indian-resident contract manufacturer located in a custom bonded area that manufactures electronic goods for the foreign company for consideration; the time-limited exemption applies up to the tax year 2030-2031 and takes effect from 1 April 2026, applying to the tax year 2026-27 and subsequent years within the stated period.
News Bill
Show AI Summary
Non-resident cruise operations and electronics manufacturing services excluded from MAT when using presumptive taxation.
Amendment excludes certain specified non-resident businesses that opt for presumptive taxation from the scope of Minimum Alternate Tax, adding cruise ship operations and services or technology for establishing electronics manufacturing facilities for resident companies to the excluded categories, with prospective application to subsequent tax years.
News Bill
Show AI Summary
Non-resident service providers: five-year exemption for foreign income when rendering services under notified Indian schemes.
An individual who has been a non-resident for five consecutive tax years immediately preceding their first visit to India to render services under a Scheme notified by the Central Government may be exempt, for five consecutive tax years commencing with that first tax year, from tax on income that accrues or arises outside India and is not deemed to accrue or arise in India, subject to prescribed conditions.
News Bill
Show AI Summary
IFSC units and OBUs will get a longer 100% deduction period and post-expiry income taxed at 15%.
Proposed amendments extend the 100% deduction under section 147 for IFSC units from 10 consecutive years out of 15 to 20 consecutive years out of 25, and for OBUs from 10 consecutive years to 20 consecutive years; business income from IFSC after the deduction period will be taxed at 15%. The amendments apply from 1 April 2026 to the tax year 2026-27 and subsequent years.
News Bill
Show AI Summary
Treasury centre dividend exclusion limited to cross border group loans in notified jurisdictions with parent listed abroad.
Amendment restricts the dividend exclusion for inter group advances or loans involving a Finance company or Finance unit by requiring the other group entity to be located in a notified jurisdiction outside India and the group's parent or principal entity to be listed abroad; the Central Government will notify eligible jurisdictions. It also defines "group entity" by reference to the IFSCA (Payment Services) Regulations, 2024, and defines "parent/principal entity" by voting power and board control tests; the changes apply from 1 April 2026 for tax year 2026 27 onward.
News Bill
Show AI Summary
Minimum Alternate Tax: MAT rate cut to 14% and treated as final in the old regime with limited credit set off.
MAT in the old corporate tax regime will be treated as final tax and no new MAT credit will be allowed; the MAT rate is reduced to 14%. Existing MAT credit set off is limited: domestic companies may set off MAT credit only in the new regime up to 25% of annual tax liability, while foreign companies may set off to the extent normal tax exceeds MAT in the relevant year. These amendments apply from 1 April 2026 for tax year 2026 27 and subsequent years.
News Bill
Show AI Summary
TCS rates on select receipts revised, including LRS and overseas tour packages, effective April 1, 2026.
Proposed rationalisation of TCS rates sets uniform rates and adjusts specific receipts: alcoholic liquor, scrap, and certain minerals rise from 1% to 2%; tendu leaves fall from 5% to 2%. Under the Liberalised Remittance Scheme, TCS for education or medical remittances over the prior threshold is reduced from 5% to 2% (20% unchanged for other purposes). TCS on sale of an overseas tour programme package is set at a flat 2% with the threshold removed. The amendment is effective 1 April 2026.
News Bill
Show AI Summary
Reassessment notices will be issued by Assessing Officers, not NaFAC, clarifying the pre-assessment role and scope.
The amendment clarifies that the pre-assessment enquiry and the decision to issue a reassessment notice are carried out by the Assessing Officer and that the National Faceless Assessment Centre or its assessment units shall not be deemed to be the Assessing Officer for issuance of reassessment notices or related pre-assessment steps; corresponding amendments align the new income-tax statute and the clarification is made retrospective to 1 April 2021 while the new Act's amendment is effective 1 April 2026.
News Bill
Show AI Summary
Computer-generated Document Identification Number: assessments not invalidated for DIN quoting mistakes if referenced in any manner.
Assessments and related proceedings under the Income-tax Act, 1961 shall not be invalid for mistakes, defects or omissions in quoting a computer-generated Document Identification Number (DIN) provided the assessment order or proceeding references that DIN in any manner; a reference to the DIN is sufficient compliance even if notices or summons contain minor defects.

TMI Notes

Back

All TMI Notes

Showing Results for :
Reset Filters
No Records Found

TMI Notes

Back

All TMI Notes

Showing Results for : Reset Filters

Transformation of Tax Deduction Mechanism in respect of donations to certain funds : Clause 133 of the Income Tax Bill, 2025 Vs. Section 80G of the Income-tax Act, 1961

16 April, 2025

Contents
Acts
Rules & Regulations
Summary
Note

Note

-

Bookmark

Print

Print

Clause 133 Deduction in respect of donations to certain funds, charitable institutions, etc.

Income Tax Bill, 2025

Introduction

Clause 133 of the Income Tax Bill, 2025, proposes to consolidate and modernize the framework for deductions in respect of donations to certain funds, charitable institutions, and other specified entities. This clause is intended to replace, update, or otherwise correspond to the existing Section 80G of the Income-tax Act, 1961, which has long served as the statutory provision governing tax deductions for charitable donations in India. The significance of these provisions lies in their dual role: incentivizing philanthropy and ensuring regulatory oversight over the entities eligible for such fiscal benefits. The present analysis provides a detailed, provision-wise commentary on Clause 133, followed by a systematic comparison with the existing Section 80G. The aim is to highlight legislative intent, key similarities and differences, interpretative issues, and practical implications for taxpayers, charitable organizations, and the administration of direct taxes in India.

Objective and Purpose

The legislative intent behind both Clause 133 and Section 80G is to encourage voluntary contributions towards causes of public welfare, national interest, and social development by providing tax incentives to donors. The provisions are also designed to ensure that only bona fide and regulated entities benefit from this policy, thereby preventing abuse and fostering transparency in the charitable sector. Historically, Section 80G has evolved through numerous amendments to address issues of misuse, to clarify eligible recipients, and to align with changing social priorities (such as disaster relief, education, and health). Clause 133 seeks to further streamline these objectives by updating the list of eligible funds, clarifying procedural aspects, and reinforcing compliance mechanisms, such as digital reporting and risk-based verification.

Detailed Analysis of Clause 133

Clause 133 is structured into several sub-clauses, each addressing a specific aspect of the deduction regime. The key features are analyzed below:

1. Eligible Donations and Quantum of Deduction (Sub-section 1)

  1. 100% Deduction [Clause 133(1)(a)]: The clause enumerates a detailed list of funds and institutions to which donations are eligible for a full (100%) deduction from the total income of the assessee. These include:
    • National Defence Fund, Prime Minister's National Relief Fund, PM CARES Fund, and other central or state-level disaster relief funds.
    • Funds for specific causes (e.g., National Children's Fund, National Foundation for Communal Harmony, National Blood Transfusion Council).
    • Universities or educational institutions of national eminence, subject to approval.
    • Specific state government funds (e.g., Gujarat Earthquake Relief), and district-level literacy societies.
    • Medical relief funds, welfare funds for armed forces personnel, and funds for illness assistance.
    • National Sports Development Fund, National Cultural Fund, Fund for Technology Development, Swachh Bharat Kosh, Clean Ganga Fund, and National Fund for Control of Drug Abuse.
    • Entities promoting family planning, and sports associations recognized by the Central Government (for companies).
    The inclusion of explicit exclusions for sums spent under Corporate Social Responsibility (CSR) u/s 135(5) of the Companies Act, 2013, for certain funds (e.g., Swachh Bharat Kosh, Clean Ganga Fund) is notable and aligns with recent policy clarifications.
  2. 50% Deduction [Clause 133(1)(b)]: Donations to other specified funds and institutions are eligible for a 50% deduction, including:
    • Prime Minister's Drought Relief Fund, other approved charitable institutions (subject to conditions), government or local authority for charitable purposes (excluding family planning), authorities for housing or urban development, and corporations for minority community welfare.
    • Donations for renovation or repair of notified places of worship of historic or artistic importance.
    The clause defines "minority community" as notified by the Central Government, ensuring clarity.

2. Aggregate Limit (Sub-section 2)

Where the aggregate of certain donations (e.g., those for family planning, sports infrastructure, and those under sub-section 1(b)) exceeds 10% of the adjusted gross total income, the excess over 10% is ignored for deduction purposes. This cap is designed to prevent disproportionate tax benefits and to ensure the deduction remains within reasonable limits relative to the taxpayer's income.

3. Exclusion from Double Deduction (Sub-section 3)

Any sum allowed as a deduction under Clause 133 cannot be claimed under any other provision of the Act for the same or any other tax year. This anti-duplication measure is critical for fiscal discipline.

4. Nature and Mode of Donation (Sub-sections 4 and 5)

  • Deductions are allowed only for donations made as a sum of money (not in kind).
  • Donations exceeding Rs. 2,000 must be made by a mode other than cash to qualify for deduction, reinforcing the move towards digital and traceable transactions.

5. Compliance and Reporting (Sub-section 6)

For donations to institutions or funds under sub-section (1)(b)(ii), the deduction is allowed only if:

  • The institution or fund furnishes information regarding the donation to the prescribed authority.
  • The claim is subject to verification as per the risk management strategy formulated by the Board.

This provision strengthens compliance and aligns with the broader digitalization and risk-based monitoring of charitable donations.

6. Definitions and Interpretative Clarifications (Sub-section 7)

Key terms such as "adjusted gross total income," "charitable purpose," and the nature of the National and State Blood Transfusion Councils are defined. Notably, "charitable purpose" is expressly stated to exclude purposes wholly or substantially of a religious nature, maintaining the secular character of the deduction regime.

Comparative Analysis with Section 80G

A detailed comparison reveals both continuity and innovation in the new Clause 133 vis-`a-vis the existing Section 80G.

1. Scope of Eligible Recipients

Both provisions enumerate a similar list of eligible funds and institutions, with only minor variations in nomenclature and sequencing. However, Section 80G contains a longer, more fragmented list, reflecting its piecemeal evolution. Clause 133 consolidates and streamlines these categories, possibly omitting obsolete or merged funds (e.g., certain state-specific relief funds that are no longer operational). Section 80G also includes a provision for donations to "any other fund or institution to which this section applies," subject to approval and compliance with detailed conditions (sub-section 5). Clause 133 maintains a similar approach but refers to Schedule VII (Table: Sl. No. 1) and approval u/s 354, possibly signifying a shift towards a more codified and centralized approval process.

2. Quantum of Deduction

Both provisions distinguish between 100% and 50% deductions, depending on the nature of the recipient fund or institution. The underlying policy is consistent: donations to funds of national importance or for specific critical purposes (e.g., defence, disaster relief) are incentivized more than general charitable donations. Section 80G, however, contains a more complex calculation mechanism, especially where the aggregate includes sums eligible for both 100% and 50% deduction (sub-section 1(i)). Clause 133 simplifies this by more directly specifying the eligible categories under each quantum.

3. Aggregate Cap

Both provisions impose a 10% cap (of gross total income or adjusted gross total income) on certain categories of donations. Section 80G details the sub-clauses to which the cap applies, whereas Clause 133 refers to the relevant sub-sections more succinctly. The methodology for calculating "adjusted gross total income" is explicitly defined in Clause 133, reducing ambiguity.

4. Conditions for Eligible Institutions

Section 80G lays out extensive conditions for approval of institutions and funds:

  • Charitable purpose, non-religious in nature.
  • Registration under relevant laws (trust, society, etc.).
  • Non-profit distribution, regular accounts, and restrictions on benefit to any religious community or caste.
  • Approval by the Principal Commissioner or Commissioner, subject to periodic renewal and compliance with reporting requirements.
  • Detailed procedural rules for application, renewal, and cancellation of approval.

Clause 133, while referencing approval and compliance, appears to delegate much of the procedural detail to subordinate legislation (e.g., Schedule VII, section 354, prescribed authority), potentially allowing for more flexible and up-to-date regulatory mechanisms.

5. Exclusion of Religious Purpose

Both provisions unequivocally state that "charitable purpose" does not include purposes wholly or substantially of a religious nature. Section 80G, however, contains an explicit deeming provision (sub-section 5B) allowing up to 5% expenditure of a religious nature without disqualification. Clause 133 does not contain a comparable express carve-out, suggesting a stricter approach or an intent to clarify this via subordinate rules.

6. Mode of Donation and Anti-Abuse Provisions

Both provisions restrict deductions to monetary donations (not in kind) and require non-cash payment for amounts exceeding Rs. 2,000. Section 80G previously had a higher threshold (Rs. 10,000), which has since been aligned with the Rs. 2,000 limit, now mirrored in Clause 133. The anti-duplication rule is present in both (Section 80G(5A); Clause 133(3)), ensuring that a donation cannot be claimed under multiple provisions.

7. Reporting, Compliance, and Digitalization

Section 80G has, post-2020, mandated digital reporting by recipient institutions (sub-section 5(viii), (ix)), requiring statements to be furnished to the tax authorities and certificates to be issued to donors. Clause 133(6) similarly conditions deduction on information being furnished by the recipient institution and allows for risk-based verification. Both provisions thus reflect the policy shift towards digital administration and data-driven compliance.

8. Transitional and Miscellaneous Provisions

Section 80G contains detailed transitional provisions, explanations, and clarifications regarding the status of institutions, approval processes, and the treatment of pending applications. Clause 133, as a new provision, is more streamlined but may rely on future notifications or rules for transitional arrangements.

Practical Implications

For Taxpayers

  • Taxpayers must ensure donations are made to eligible entities, via non-cash modes for amounts above Rs. 2,000, and secure appropriate documentation (receipts, certificates).
  • Donations to entities not listed or not approved under the new regime will not qualify, necessitating due diligence.
  • The 10% cap on eligible donations for certain categories requires careful tax planning to maximize benefit.

For Charitable Institutions

  • Institutions must secure and maintain approval as per the new procedures, furnish timely digital statements to authorities, and issue certificates to donors.
  • Non-compliance may result in denial of deduction to donors, potentially affecting fundraising.
  • Entities with religious objectives must be cautious, as the exclusion for religious purposes is strictly enforced.

For Tax Authorities

  • The digitalization of reporting and risk-based verification enhances oversight but also increases administrative responsibility.
  • Clear guidelines and robust IT systems will be necessary to process and verify the large volume of data generated under these provisions.

Ambiguities and Issues in Interpretation

Transitional Issues 

Transition from Section 80G to Clause 133 may give rise to questions regarding the status of approvals granted under the old regime, treatment of donations made during the transition period, and continuity of eligibility for ongoing or recurring donations.

Definition of Charitable Purpose

While both provisions exclude religious purposes, the practical interpretation of "substantially religious" may still give rise to disputes, especially for institutions with mixed objectives.

Compliance Burden

The increasing compliance requirements for donee institutions (approval, reporting, certificate issuance) may pose challenges, especially for smaller entities. Any lapses could adversely affect donors, potentially leading to litigation.

Ceiling and Classification Issues

The 10% ceiling and classification of donations into 100% and 50% categories can be complex, especially when donors make multiple donations to different categories. Errors in classification or calculation may lead to disallowance or disputes.

Areas for Reform or Judicial Clarification

  • Clear transitional guidelines should be issued to address approvals, ongoing donations, and treatment of donations made around the time of legislative change.
  • Further clarification may be warranted on the scope of "charitable purpose" and the permissible extent of incidental religious activity.
  • Consideration could be given to simplifying the compliance burden for small institutions, perhaps through thresholds or digital facilitation.
  • Greater public awareness and guidance for both donors and donee institutions would help in smoother implementation and reduced disputes.

Conclusion

Clause 133 of the Income Tax Bill, 2025, represents a comprehensive and modernized approach to the deduction regime for charitable donations in India. While it retains the core policy and structure of Section 80G, it seeks to simplify, clarify, and digitize the regime in line with contemporary administrative and compliance requirements. The comparative analysis reveals substantial continuity but also key innovations, particularly in the areas of digital reporting, approval processes, and the explicit exclusion of CSR-related donations. Stakeholders must closely monitor the evolution of subordinate legislation and administrative guidance under the new regime to ensure seamless compliance and to maximize the intended benefits of charitable giving within the framework of Indian direct tax law.


Full Text:

Clause 133 Deduction in respect of donations to certain funds, charitable institutions, etc.

Topics

Acts Income Tax