Friends,
If someone is making Donations then he/she can avail the dedcution while calculating Income Tax for the relevant year. Till now there was no restriction to make this donation in cash or by cheque. But from the Assesment year 2013-14 there will be no deduction allowed in case of Donations paid in cash for a amount more than 10,000/- under new rules of Income Tax sub-clause 5(D) of 80G.
The amendment can be read as under :-
Amendment of section 80G vide finance Bill 2012 dated 16.03.2012
27. In section 80G of the Income-tax Act, after sub-section (5C), the following sub-section shall be inserted with effect from the 1st day of April, 2013, namely:—
“(5D) No deduction shall be allowed under this section in respect of donation of any sum exceeding rupees ten thousand."
