No 80G Deduction for cash donation exceeding Rs 2000 to provide cash less economy and transparency. Budget 2017-18 provisions from AY 2018-19
Restricting cash donations
Under the existing provisions of section 80G, deduction is not allowed in respect of donation made of any sum exceeding Rs.10,000, if the same is not paid by any mode other than cash.
In order to provide cash less economy and transparency, it is proposed to amend section 80G so as to provide that no deduction shall be allowed under the section 80G in respect of donation of any sum exceeding two thousand rupees unless such sum is paid by any mode other than cash.
This amendment will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-19 and subsequent years.
Mere non-deduction of TDS by the deductor on a transaction does not change the character of the transaction to make…
ICAI has extended the last date to online submit Multipurpose Empanelment Form (MEF)- 2026-27 from 29th August 2026 to 9th…
Can a demand notice be issued u/s 156 for non-payment of Dividend tax u/s 115-O, when as per assessment order…
The issue already examined and adjudicated by the quasi-judicial authority, i.e., CIT(Appeals), cannot be reopened on the same set of…
One TDS is deducted, credit has to follow, failure of deductor to deposit the amount to the credit of the…
Merely because assessee did not explain purpose of cash withdrawal from bank, it can not be taxed u/s 69C as…