Changes impacting Charitable Institutions w.e.f 1st April 2022
Expenditure only on payment basis (No accrual):
Exemption for Application of funds for charitable trusts shall be on actual payment basis instead of accrual of liability. [Section 11]
Applicability of disallowances for non-deduction of TDS, Cash payment in excess of Rs. 10,000/-
Explanation to sub-section (10) to section 13 of the Act to provide that for the purposes of determining the amount of expenditure under this sub-section, the provisions of sub-clause (ia) of clause (a) of section 40 and sub-sections (3) and (3A) of section 40A, shall, mutatis mutandis, apply as they apply in computing the income chargeable under the head "Profits and gains of business or profession".