80G Return

Compliance Procedures

80G certificate is one that is granted to certain not-for-profit organization by the income tax department, granting their donors the ability to avail of a tax deduction on donations.

As per latest amendments proposed in Finance Bill 2020, deduction under this section to a donor shall be allowed only if a statement is furnished by the donee in respect of donations received and in the event of failure to do so, fee and penalty shall be levied.

The statement shall be filled by the not for profit organizations having 80G certificate specifying the name of the each donor in the statement.

As of now 80G forms for return are yet to be published and will be available as an when the forms are issued.

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