RAMU G (Chartered Accountant) (158 Points)
09 July 2012I got an information that the Donation which are eligible for 80G under income tax, the assesse should not give the donation more than Rs.10000/- in a year in the form of cash? in this regards the CBDT issued one circular or notification. i request Pls send the notification number or circular for better understading?
pavan joshi
(none)
(63 Points)
Replied 10 July 2012
Assessess r entitled to deduction u/s 80 g if they hv contributed to or donated to Approved funds and charitable institutions. n list of 100 percent n fifty percent deductions r available...ndonation should b made in sum of money not in kind..n to my knowledge no such notifications hv been issued.......i myt b wrng too regarding notification...
Parihar Gopal
(Corporate Taxation )
(392 Points)
Replied 10 July 2012
Amendment of section 80G vide finance Bill 2012 dated 16.03.2012
In section 80G of the Income-tax Act, after sub-section (5C), the following sub-section shall be inserted with effect from the 1st day of April, 2013, namely:—
“(5D) No deduction shall be allowed under this section in respect of donation of any sum exceeding ten thousand rupees unless such sum is paid by any mode other than cash.”.
CA.Varalakshmi.M
(Manager-Finance)
(482 Points)
Replied 10 July 2012
Yes,I agree with Gopal.
In case of donation in excess of Rs.10000/- ,to avail deduction under sec 80 G,it should be made in any mode otherthan cash.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
