Amendment in Section 80G

Amendment in Section 80G

New sub-clause

A new section has been inserted by Finance Bill 2012 where no deduction shall be allowed under this section in respect of donation of any sum exceeding ten thousand rupees, unless such sum is paid by any mode other than cash.

Analysis

As per the new sub-section (5D) to Section 80G any payment exceeding a sum of ten thousand rupees shall only be allowed as a deduction if such sum is paid by any mode other than cash.

These amendments will take effect from 1st April, 2013 and will, accordingly, apply in relation to assessment year 2013-14 and subsequent assessment years.

Whats New

Notification no. 12/2012 [F.NO.142/15/2011-SO (TPL)]/S.O. 344(E), DATED 28-2-2012

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - Competition Commission of India Read More

Notification no. 11/2012 [F.NO.142/15/2011-SO (TPL)]/s.o. 343(E), DATED 28-2-2012

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - National Skill Development Corporation Read More

Notification No. F. 71-Ad(AT)/2012, dated 7-2-2012

Income-tax (Appellate Tribunal) Amendment Rules, 2012 - Amendment in rules 2, 4A, 9, 26 & 34A; deletion of proviso to rule 35A and substitution of words 'Income Tax Officer' and "Appellate Assistant Commissioner" Read More

NOTIFICATION NO. 10/2012 [F.NO. 178/7/2011-ITA-I], DATED 21-2-2012

Section 80-IA of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial infrastructure undertakings, etc. - Notified undertakings Read More

NOTIFICATION NO. 9/2012 [F. No.225/283/2011-ITA(II)], dated 17-2-2012

Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13 Read More

Notification No. 7/2012 [F.No.178/56/2011-(ITA.I)], dated 14-2-2012

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies Read More

Notification No.6/2012 [F.No. 178/56/2011-(ITA.I)], dated 14-2-2012

Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies Read More

Notification No.5/2012[F.No.142/25/2011-SO(TPL)], dated 6-2-2012

Income-tax (Second Amendment) Rules, 2012 - Insertion of rule 114DA and Form No.49C Read More

Circular No. Order No. 1/FT&TR/2012 Dated 31/01/2012

Section 144C of the Income-tax Act, 1961 - Dispute Resolution Panel (DRP) - Reference to - Constitution of DRP at specified places Read More

Circular No. Press Release No. 402/92/2006-MC (4 of 2012) Dated 27/01/2012

Signing of Convention on Mutual Administrative Assistance in tax matters as amended by the 2010 Protocol by India Read More