Anonymous no longer, NGOs must pay tax: "
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Anonymous no longer, NGOs must pay tax
DEEPTI BHASKARAN
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Posted online: Wednesday, March 01, 2006 at 0039 hours IST
NEW DELHI, FEB 28: Barring an institute or a trust run wholly for religious purposes, any other charitable institution will now have to pay income tax on donations received from anonymous and pseudonymous donors. The Budget today introduced Section 115 BBC in order to tax unaccounted money being contributed to these institutions by way of anonymous donations at a marginal rate of 30 per cent.
Also donations made to any institution with a reference on the manner it is to be used, for instance donation directed towards any university or a hospital run by a trust will be included under the proposed section. The proposed amendment is seen as a positive step, but not very robust."
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