Govt trying to discourage anonymous donations: Chidambaram
The government is trying to discourage 'gupt daan' (anonymous donation) to charitable institutions to check growth of black money and ensure that such donations are not made out of unaccounted money.
By PTI |
NEW DELHI: The government is trying to discourage 'gupt daan' (anonymous donation) to charitable institutions to check growth of black money and ensure that such donations are not made out of unaccounted money.
"What we are trying to discourage is `anonymous' donations. Anonymous donations to religious institutions are not been taxed at all. It is anonymous donations to charitable institutions which are being brought under the tax, if either the donor or the donee does not reveal who the donor is," Finance Minister P Chidambaram has said.
The government had made 'gupt daan' to charitable institutions taxable in 2006 Budget, he said while winding up the discussion on Finance Bill in the Lok Sabha yesterday.
Referring to the income tax provisions for taxing anonymous donations to charitable institutions, he said, "this is a wholesome provision. This is a provision to plug the source of black money."
Pointing out that the books of accounts must show who the donor is, Chidambaram said, "Otherwise, the inference is, it is based on experience, that this donation is largely donation of unaccounted money."
He further said, "all I am saying is let the donor give his name to donee...We are not saying that publish it in newspaper, just keep the record of who gave the money."
"When you are donating to a school or a hospital, why should it be an anonymous donation?", he quipped.
"What we are trying to discourage is `anonymous' donations. Anonymous donations to religious institutions are not been taxed at all. It is anonymous donations to charitable institutions which are being brought under the tax, if either the donor or the donee does not reveal who the donor is," Finance Minister P Chidambaram has said.
The government had made 'gupt daan' to charitable institutions taxable in 2006 Budget, he said while winding up the discussion on Finance Bill in the Lok Sabha yesterday.
Referring to the income tax provisions for taxing anonymous donations to charitable institutions, he said, "this is a wholesome provision. This is a provision to plug the source of black money."
Pointing out that the books of accounts must show who the donor is, Chidambaram said, "Otherwise, the inference is, it is based on experience, that this donation is largely donation of unaccounted money."
He further said, "all I am saying is let the donor give his name to donee...We are not saying that publish it in newspaper, just keep the record of who gave the money."
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"When you are donating to a school or a hospital, why should it be an anonymous donation?", he quipped.
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