If you are going to donate to temple and hospital, then first know these rules, how much tax will have to be paid

Income Tax Department: Every year we all have to pay taxes. The Income Tax Department makes some changes in the tax rules every year. Tax is taken on the basis of your earnings. Donation to temple or hospital is also taxed. The Income Tax Department has changed the rules for donations to temples and hospitals. Let us know what are the new tax rules.

Jun 29, 2023 - 19:27
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If you are going to donate to temple and hospital, then first know these rules, how much tax will have to be paid

Every year the salaried person has to pay taxes. The last date for filing tax returns has been fixed next month. If you have not yet filed ITR, then you should file ITR as soon as possible. If you do not do this, you may also get an income tax notice against you. Every year the Income Tax Department makes some changes in the tax laws. This year the Income Tax Department has changed the temple donation rules.
Now, while filling out the ITR, the religious institution will have to give information about how much donation has come to it. The religious institution will have to inform the taxpayer about the religious activities in which the donation given by them is engaged.
According to Income Tax, the rules of donation related to religious institutions will be applicable from October 2023. In this rule, the religious institution or the hospital will have to give information to the people or the donor that where they have spent the amount of donation. Only those donors will be included in this who have donated more than Rs 2 lakh. The religious institution will also have to give information like the name, address, PAN number, etc. of the donor.
The government has changed the registration rules for charitable institutions to be covered under 80G of the Income Tax Act. Tax exemption is claimed under 80G of the Income Tax Act. The changes made by the government will be applicable from October 2023. This rule has been changed under 2C, 11AA, and 17A of the Tax Act. Along with this, changes have also been made in the undertaking given at the end of the form.
Religious trusts, hospitals, and educational institutions are included in this category. All these are exempted from tax. For this exemption, they have to get registered with the Income Tax Department.

Muskan Kumawat Journalist & Writer