TMI BlogAmendment of section 80G.X X X X Extracts X X X X X X X X Extracts X X X X ..... r fund prepares such statement for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed: Provided that the institution or fund may also deliver to the said prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be prescribed; and (ix ) the institution or fund furnishes to the do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (i ) where the application is made under clause (i ) of the said proviso, pass an order in writing granting it approval for a period of five years; (ii ) where the application is made under clause (ii ) or clause (iii ) of the said proviso, (a ) call for such documents or information from it or make such inquiries as he thinks necessary in order to satisfy himself about- (A ) the genuineness of activities of such institution or fund; and (B ) the fulfilment of all the conditions laid down in clauses (i ) to (v ); and (b ) after satisfying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approval was earlier granted to such institution or fund; (b ) clause (iii ) of the first proviso, from the first of the assessment years for which such institution or fund was provisionally approved; (c ) in any other case, from the assessment year immediately following the financial year in which such application is made. ; (ii ) in sub-section (5D ), after Explanation 2, the following Explanation shall be inserted, namely: Explanation 2A.- For the removal of doubts, it is hereby declared that claim of the assessee for a deduction in respect of any donation made to an institution or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the institution or fund is for the time being approved by the Commissioner in accordance with the rules made in this behalf. It is proposed to amend said sub-section so as to provide additional conditions as under:- (a) the institution or fund prepares such statement for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed and it may also deliver to the said prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipt of an application made under the proposed first proviso, shall send a copy of order passed in writing,- (a) where the application is under clause (i) of the said proviso, granting it approval for a period of five years; (b) where the application is under clause (ii) or clause (iii) of the said proviso, I. call for such documents or information from it or make such inquiries as he thinks necessary in order to satisfy himself about,- (A) the genuineness of activities of such institution or fund; and (B) the fulfilment of all the conditions laid down in clauses (i) to (v) of sub-section (5); and II. after satisfying himself about the genuineness of activities under item (A), and the fulfilment of all the conditions unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lication is made. It is also proposed to insert a new sub-section (5E) so as to provide that all applications, pending before the Commissioner on which no order has been passed under clause (vi) of sub-section (5) before the date on which this sub-section has come into effect, shall be deemed to be an application made under clause (iv) of the first proviso of sub-section (5) on that date. It is also proposed to insert new Explanation 2A to declare that assessee s claim for a deduction in respect of any donation made to an institution or fund to which subsection (5) applies, in the return of income for any assessment year filed by him, shall be allowed on the basis of information relating to said donation furnished by the institution o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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