As you all are aware that the ICAI has always been proactive in disseminating the knowledge and sharpening the skills of its members. Recently, changes were made in the provisions pertaining to compliance by charitable religious institutions under the Income-tax act, 1961 by making it mandatory the furnishing of Statement of Donations Received in Form No. 10BD and thereafter generation of Certificate of Donations in Form 10BE. The due date to furnish the same by the concerned assessee is 31st May following the financial year of reporting.
We would like to inform you that the Direct Taxes Committee of ICAI has come out with the publication namely “Handbook on Statement of Donations Received”. This new publication would assist the members and other stakeholders in better understanding of the changes being made and in furnishing of Form No. 10BD in a hassle-free and timely manner.
To download the said publication, click on the link given below:
https://resource.cdn.icai.org/70498dtc56444.pdf
We are confident that this publication will prove to be quite useful to the membership and stakeholders and will add to the goodwill of the ICAI. We are sure this publication will help the members in discharging their professional commitments in a more confident and timely manner.
With Warm Regards,
Chairman
Direct Taxes Committee, ICAI
An important piece of information indeed.