Changes impacting Charitable Institutions w.e.f 1st Apr 2022


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	Blog Categories All Company Law (0) Due Dates (2) GST (2) Income Tax (1) Others (1) TDS - TCS Chart (2) Trust / NGO (1) Changes impacting Charitable Institutions w.e.f 1st Apr 2022 Category: Trust / NGO, Posted on: 09/04/2022 Visitor Count:343 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". Disclaimer: The content of the blog does not create any responsibility of the firm / its authorized persons whose website is being accessed. The blog is not for legal use. Kindly verify the correctness of data/contents from your own sources. This is only for information purpose. Add a Comment Name: Your Comment: View Comments (0)

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