The Union Budget 2017 was presented by the Honorable Finance Minister on 1st February 2017. We have done a detail analysis of the implication of the budget with respect to NPOs in a form of an ecommunique. The same is also uploaded on our website http://bit.ly/2kwKVZ0
There are few significant changes like corpus donation given to another organization cannot be treated as valid application of income. Similarly, Section 80G(5D) of the Income Tax Act has been amended. By virtue of the amended provisions, NGOs cannot receive more than Rs. 2,000/- thousand rupees in cash for the purposes of 80G. Further, the organization is liable to inform the Commissioner of Income Tax within 30 days if there is any change in the object clause which changes the character of the organization. For further details, please read our analysis.