"anonymous donation" means any voluntary contribution referred to in section 2(24)(iia) of the income tax act, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed.
Anonymous donations are taxable for trust or institutions at the rate of 30%, However, from the assessment year 2010-11, anonymous donations are taxable only to the extent such donation exceeds Rs. 1,00,000 or 5% of total donations received by the trust, whichever is higher.
Any income received by way of anonymous donations by the following entities shall be included in the total income and taxed at the rate of 30%.
The following entities shall not be liable to pay tax on anonymous donations received by them:
However, donation mentioned in (ii) (supra) does not include any anonymous donation made with a specific direction that such donation is for any university or other educational institution or any hospital or other medical institution run by such trust or institution.