The Finance Bill, 2025 has proposed an increase in the contribution limit, setting it at over Rs.1 lakh during the relevant previous year or exceeding Rs.10 lakhs in aggregate up to the end of the relevant previous year by specified persons u/s 13(3).
The Finance Bill, 2025 has amended the definition of “Specified Persons” u/s 13(3) concerning persons who have made substantial contributions to an organization in the preceding year or earlier.
Currently, any donor who has contributed amount exceeding Rs.50,000 across all preceding years is considered a specified person.
Now, the Finance Bill, 2025 has proposed to increase the contributions limit setting it at over Rs.1 lakh during the relevant previous year or exceeding Rs.10 lakhs in aggregate up to the end of the relevant previous year by specified persons u/s 13(3).
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