Section 115BBC of ITA, 1961 : Section 115Bbc: Anonymous Donations To Be Taxed In Certain Cases
ITA, 1961
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Explanation using Example
Imagine a charitable educational trust, ABC Trust, which is registered under Section 12AA of the Income-tax Act, 1961 and has received various donations throughout the financial year. Among these donations, ABC Trust received an amount of ₹500,000 where the donors chose to remain anonymous. The trust also received other (non-anonymous) donations totaling ₹7,000,000 during the year.
As per Section 115BBC of the Income-tax Act, ABC Trust needs to calculate the tax on...
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