The Government has received donations for the Swachh Bharat Kosh (SBK). So far, Rs. 95.46 crore have been received in the Kosh.
Finance Bill, 2015 proposed to amend the provisions of Section 80G of the Income Tax Act, 1961 so as to provide that donations made by any donor to the Swachh Bharat Kosh will be eligible for deduction of 100% from the total income. However, any sum spent in pursuance of Corporate Social Responsibility under sub-section (5) of Section 135 of the Companies Act, 2013, will not be eligible for deduction from the total income of the donor. Further, Finance Bill 2015 also proposes to amend Section 19 (23C) of the Income Tax Act so as to exempt the income of SBK from Income-tax.
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.
Finance Bill, 2015 proposed to amend the provisions of Section 80G of the Income Tax Act, 1961 so as to provide that donations made by any donor to the Swachh Bharat Kosh will be eligible for deduction of 100% from the total income. However, any sum spent in pursuance of Corporate Social Responsibility under sub-section (5) of Section 135 of the Companies Act, 2013, will not be eligible for deduction from the total income of the donor. Further, Finance Bill 2015 also proposes to amend Section 19 (23C) of the Income Tax Act so as to exempt the income of SBK from Income-tax.
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.
