A charitable institution, engaged in education of Yoga in India, registered under section 12AB of the Income-tax Act, 1961 for the previous year…
CA Final · Direct Tax Laws and International Taxation · PYQS · November 2024
A charitable institution, engaged in education of Yoga in India, registered under section 12AB of the Income-tax Act, 1961 for the previous year ended 31 March 2024, received the following amounts of donation: (i) Total donations during the year 40,00,000 (ii) Anonymous donations received - 10,00,000 (Included in total donations) What amount of anonymous donations would be taxable @30% as per Section 115BBC of the Income-tax Act, 1961.
Suggested Answer and Working Notes:
Correct Answer: Option (B)
₹ 8,00,000
Topics: Profits and Gains of Business or Profession
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