Restricting cash donations - Budget 2017 - 18 - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
Trending
Powered by Blogger.
Saturday, February 04, 2017

Restricting cash donations - Budget 2017 - 18

Restricting cash donations - Budget 2017 - 18

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.

[Clause 35]
Restricting cash donations - Budget 2017 - 18 Reviewed by S. Chitra on February 04, 2017 Rating: 5 Restricting cash donations -  Budget 2017 - 18 Under the existing provisions of section 80G, deduction is not allowed in respect of don...

No comments:

Google+ Followers