renewal of exemption u/s 80G

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Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2011 sir, Is it necessary to apply for renewal for exemption u/s 80G of I.T.Act, 1961 after 30-09-2010

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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25 January 2011 If the 80G approval is existing as on 01/10/2009 it need not be renewed because approval is deemed to have been continued unless it is cancelled by the Income tax authority. This amendment is as a consequence to the omission of the proviso to clause (vi) of section 80G(5) by The Finace (no.2)Bill,2009.