07 January 2024
A charitable trust registered u/s 12A and u/s 80G of the Income Tax Act, 1961 has a bank account in which donations are received from the general public through cheques, bank transfers, cash deposits at various branches of bank across India, payments through UPI, etc.
Some donors do not communicate with the trust regarding their donations deposits in bank; therefore, the trust is not in a position to identify the donor.
My query is about the treatment of donations for which the trust does not have details of donors, whether such donations shall be treated to be Anonymous Donations for the purpose of s.115BBC ? Whether the donations received otherwise than through cash deposit though the details of donors is not with the trust, will be termed as Anonymous donations? What will be the treatment of donations deposited by donors at bank branches in cash whose donors are not known?
Further, some donors have provided their addresses but did not provide any identification details such as PAN / Aadhaar, etc. Will the donation from such persons be treated as Anonymous?
CAclubindia
