Reporting of Statement of Donation Form 10BD

Previously, there were no full proof mechanism with the Income Tax Department to cross verify each and every claim under 80G taken by the donor as deduction in their Income tax return. Not every donation received by trust/Research Institution were checked by the Department. With the Introduction of mandatory Filing of Form 10BD and Form 10BE, genuineness of the 80G deduction and Transparency of Donation received by the Institution can be examined. CBDT issued a notification no. 19/2021 dated 26th March 2021 that is applicable from financial Year 2021-22. In…