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Exemption u/s 80G still valid?

medappa (legal) (30 Points)

09 October 2009

Hi,

The trust I work in has as exemption certificate u/s 80G of the Income tax Act. With the new finance bill in place, is the exemption certificate still valid?

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8 Replies

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 09 October 2009

yes, it's valid as new direct tax code has not been implemented and even though it will get implemented it would be from 01.04.2011 onwards. So, till then have exemption.

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PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)
Replied 10 October 2009

yes it is still valid.. still exempted

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 11 October 2009

Dear Mr. Medappa,

For providing exemption benefits u/s. 80G for its donor, the trust usally get registered u/s. 12A and then apply for 80G Cert/order. This certificate is valid for some number of years as specified therein. You need to check whether your certificate is valid for F.Y. 2009-10 and if so, donor to your trust shall be eligible to claim exemption u/s. 80G.

Thanks

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