Bogus Donation Racket Busted by CBDT, Doners to Face the Heat
The CBDT has launched crackdown of the alleged unscrupulous assessees who claimed deduction u/s 35(1)(ii) by making donations to bogus research institution.
100’s of donors gave donation to a bogus research institution named Rural Development Society located in Hyderabad.
As per CBDT the organization was not recognized for the Purpose of deduction us 35(1)(ii) of the Income Tax act and consequently the doners will not be eligible for any Deduction.
The CBDT has provided a list of the donors and directed that in order to curb the blatant misuse of the beneficial provision, appropriate remedial action with respect to the donors should be initiated by the Assessing Officer.
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