Analysis of Budget 2020: Impact on Charity Institution

• February 14, 2020
• CA Chandan Agarwal's Office

Longest Budget…?

First Full Female Finance Minister Mrs. Niramala Sitharaman on February 1st 2020 (Saturday), delivered the longest Union Budget speech in Lok Sabha. The stock market had already shown its disappointment with the budget. Let’s have a view of it from the non-corporate angle.

Para 124 of the budget speech by the Hon’ble Finance Minister “Acknowledging the important role played by the charitable institutions in the society, the income of these institutions is fully exempt from taxation. Further, donation made to these institutions is also allowed as deduction in computing the taxable income of the donor.”

Read more on: https://taxguru.in/chartered-accountant/analysis-budget-2020-impact-charity-institution.html