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Bill - Highlights / Catch Notes

Home Highlights July 2024 Year 2024 This

Income Tax: The proposed amendment to sub-clause (iiihg) of ...


Proposed amendment allows tax deduction for donations to National Sports Development Fund from 2025-26.

Notes     Bill

July 28, 2024

Income Tax: The proposed amendment to sub-clause (iiihg) of clause (a) of sub-section (2) of Section 80G of the Income Tax Act seeks to provide deduction for donations made to the National Sports Development Fund set up by the Central Government. The amendment aims to align the statutory provision with the actual name of the fund, which was established as the National Sports Development Fund instead of the National Sports Fund. The amendment will be effective from April 1, 2025, and applicable for the assessment year 2025-26 and subsequent years.

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