Inter Charity Grant after Finance Act 2023 - Application restricted to 85% of Total Grant
The Finance Act 2023 has made a very important amendment with regard to inter-charity donation. With effect from assessment year 2024-25, only 85% of the eligible donations made by a trust or institution registered under Section 12AB to another trust or institution registered under Section 12AB or approved under Section 10(23C), will be considered as the application of income.
In this edition, we discuss the various issues related to inter-charity donation. For details, please read this issue of Standard & Norms