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Filing of statement of donation by donee to cross-check claim of donation by donor

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..... ies in respect of which the payer, being the donor, gets deduction in computation of his income. At present, there is no reporting obligation by the exempt entity receiving donation/ any sum in respect of such donation/ sum. With the advancement in technology, it is now feasible to standardise the process through which one-to-one matching between what is received by the exempt entity and what is c .....

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..... er section 12AA subject to the condition that the registration shall become inoperative. If the entity wishes to make it operative in the future, it will have to file an application and then it would not be entitled for deduction under clause (46) from the date on which the registration becomes operative. (ii) the registration under section 12AA would also become inoperative in case of an entity e .....

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..... ect of the entity shall be valid for a period not exceeding five years at one time. (v) application for approval under section 80G shall be made to Principal Commissioner or Commissioner. (vi) an entity making fresh application for approval under clause (23C) of section 10, for registration under section 12AA, for approval under section 80G shall be provisionally approved or registered for three y .....

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..... ed to furnish a statement in respect of donations received and in the event of failure to do so, fee and penalty shall be levied. (ix) similar to section 80G of the Act, deduction of cash donation under section 80GGA shall be restricted to ₹ 2,000/- only. These amendments will take effect from 1st June, 2020. [Clauses 7,9,11,12,17,33,34,61,94,96 & 99] Budget 2020-21 + FINANCE BILL, 2020 .....

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