Insertion of new section 115BBC
Section 22 of the Finance Act, 2006 deals with insertion of new section 115BBC. 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.
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.’.
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Section 22, The Finance Act, 2006.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 22
What does Section 22 of the Finance Act deal with?
Section 22 of the Finance Act is headed "Insertion of new section 115BBC". 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.
How do I find court cases under Section 22 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2006 22, section 22 Finance Act 2006, section 22 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 22 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), section 10 (Amendment of section 40), section 11 (Amendment of section 43), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2006. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule7285 words
- 2. Income-tax2665 words
- 4. Amendment of section 10604 words
- 3. Amendment of section 2556 words
- 20. Insertion of new section 90A531 words
- 33. Insertion of new section 139B512 words
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