Information of those who donate more than two lakhs in a single day will have to be given

New Delhi ,dt. 27

The Income Tax Department has changed the rules for tax-exempt religious institutions. According to the new rule, these institutions will also have to provide information whether their activities are exclusively religious or charitable in addition to religious.

The new rules will come into effect from October 1 ,2023. According to the new rules, charities will have to provide information to the Income Tax Department about people who have donated more than two lakh rupees in a single day. In which information including name ,address and PAN number ofthe donors have to be given.

According to experts, the government recently revised the registration rules for religious organizations claiming tax exemptions or obtaining 80G certificate under the Income Tax Act.

The government has now amendedthe Income Tax Rules (Rule 2-C , 11-AA and 17A). The amended rule will come into effect from October 1 ,2023. Apart from this, some changes have been made in the undertaking given at the end of the respective form.

Incomeof charitable institutions , religious trusts , health and educational institutions are exempt from tax under the Income Tax Act. However, for this they have to get registered with the Income Tax Department.