{"act":{"id":"finance-act-2006","short_title":"The Finance Act, 2006","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2006-2007.","act_number":null,"act_year":2006,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":66,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2006/"},"unit":"section","section":{"number":"22","heading":"Insertion of new section 115BBC","text":"Insertion of new section 115BBC. 22. In Chapter XII of the Income-tax Act, after section 115BBB, the following section shall be inserted with effect from the 1st day of April, 2007, namely:— ‘115BBC. Anonymous donations to be taxed in certain cases.— (1) Where the total income of an assessee, being a person in receipt of income on behalf of any university or other educational institution referred to in sub-clause (iiiad) or sub-clause (vi) or any hospital or other institution referred to in sub-clause (iiiae) or sub-clause (via) or any fund or institution referred to in sub-clause (iv) or any trust or institution referred to in sub-clause (v) of clause (23C) of section 10 or any trust or institution referred to in section 11, includes any income by way of any anonymous donation, the income-tax payable shall be the aggregate of— (i ) the amount of income-tax calculated on the income by way of any anonymous donation, at the rate of thirty per cent; and (ii ) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (i). (2) The provisions of sub-section (1) shall not apply to any anonymous donation received by— (a ) any trust or institution created or established wholly for religious purposes; (b ) any trust or institution created or established wholly for religious and charitable purposes other than any anonymous donation made with a specific direction that such donation is for any university or other educational institution or any hospital or other medical institution run by such trust or institution. (3) For the purposes of this section, \"anonymous donation\" means any voluntary contribution referred to in sub-clause (iia) of clause (24) of section 2, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Insertion of new section 115BBC.</b></p><p><b>22.</b> In Chapter XII of the Income-tax Act, after section 115BBB, the following section shall be inserted with effect from the 1st day of April, 2007, namely:—</p><p>‘115BBC. <i>Anonymous donations to be taxed in certain cases.— </i>(1) Where the total income of an assessee, being a person in receipt of income on behalf of any university or other educational institution referred to in sub-clause (<i>iiiad</i>) or sub-clause (<i>vi</i>) or any hospital or other institution referred to in sub-clause (<i>iiiae</i>) or sub-clause (<i>via</i>) or any fund or institution referred to in sub-clause (<i>iv</i>) or any trust or institution referred to in sub-clause (<i>v</i>) of clause (<i>23C</i>) of section 10 or any trust or institution referred to in section 11, includes any income by way of any anonymous donation, the income-tax payable shall be the aggregate of—</p><p>(<i>i</i> ) the amount of income-tax calculated on the income by way of any anonymous donation, at the rate of thirty per cent; and</p><p>(<i>ii</i> ) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (<i>i</i>).</p><p><span class=\"num\">(2)</span> The provisions of sub-section (1) shall not apply to any anonymous donation received by—</p><p>(<i>a</i> ) any trust or institution created or established wholly for religious purposes;</p><p>(<i>b</i> ) any trust or institution created or established wholly for religious and charitable purposes other than any anonymous donation made with a specific direction that such donation is for any university or other educational institution or any hospital or other medical institution run by such trust or institution.</p><p><span class=\"num\">(3)</span> For the purposes of this section, \"anonymous donation\" means any voluntary contribution referred to in sub-clause (<i>iia</i>) of clause (<i>24</i>) of section 2, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":334,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2006/section/22/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}