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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Donations in golaks - AO proposed to tax the anonymous donations ...

Income Tax

April 5, 2016

Donations in golaks - AO proposed to tax the anonymous donations - The Legislature intended to tax the unaccounted money or black money which was brought in the books of charitable trusts in bulk and this law was not meant for taxing the small and general charities collected by the Genuine Charitable Trusts. - No Addition - AT

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  8. Addition u/s 68 or 115BBC - The anonymous donations will not be covered if donations received by any trust or institution created or established wholly for religious...

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  10. Anonymous donations made to religious trust will not come within the purview of the provisions of sec.115BBC of the Act. - AT

 

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