India - Income Tax Act 2010 - Saarc

S. 80G I.T. ACT, 1961 1.408(i) the development of infrastructure for sports and games; or(ii) the sponsorship of sports and games,in India;]46[(d) any sums paid by the assessee, during the period beginning on the26th day of January, 2001 and ending on the 30th day of September,2001, to any trust, institution or fund to which this section applies forproviding relief to the victims of earthquake in Gujarat.](3) [Omitted by the Finance Act, 1994, w.e.f. 1-4-1994.]47[(4) Where the aggregate of the sums referred to in sub-clauses (iv), (v), (vi)48[, (via)] and (vii) of clause (a) and in 49 [clauses (b) and (c)] of sub-section (2)exceeds ten per cent of the gross total income (as reduced by any portion thereofon which income-tax is not payable under any provision of this Act and by anyamount in respect of which the assessee is entitled to a deduction under any otherprovision of this Chapter), then the amount in excess of ten per cent of the grosstotal income shall be ignored for the purpose of computing the aggregate of thesums in respect of which deduction is to be allowed under sub-section (1)].(5) This section applies to donations to any institution or fund referred to in subclause(iv) of clause (a) of sub-section (2), only if it is established in India for acharitable purpose and if it fulfils the following conditions, namely :—50[(i) where the institution or fund derives any income, such income wouldnot be liable to inclusion in its total income under the provisions ofsections 11 and 12 51 [* * *] 52 [ 53 [***]] 54 [or clause (23AA)] 55 [or clause(23C)] of section 10 :56[Provided that where an institution or fund derives any income,being profits and gains of business, the condition that such incomewould not be liable to inclusion in its total income under the provisionsof section 11 shall not apply in relation to such income, if—(a) the institution or fund maintains separate books of account inrespect of such business;46. Inserted by the Taxation Laws (Amendment) Act, 2001, w.r.e.f. 3-2-2001.47. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Prior to itssubstitution, sub-section (4) was amended by the Taxation Laws (Amendment) Act, 1970,w.r.e.f. 1-4-1968, Finance (No. 2) Act, 1977, w.e.f. 1-4-1978 and substituted by the Finance(No. 2) Act, 1980, w.e.f. 1-4-1981.48. Inserted by the Finance Act, 1995, w.e.f. 1-4-1995.49. Substituted for “clause (b)” by the Finance Act, 2000, w.e.f. 1-4-2001.50. Restored to its original provision by the Direct Tax Laws (Amendment) Act, 1989, w.e.f.1-4-1989. Earlier, it was substituted by the Direct Tax Laws (Amendment) Act, 1987, witheffect from the same date.51. Words “or clause (22) or clause (22A)” omitted by the Finance (No. 2) Act, 1998, w.e.f.1-4-1999. Earlier “or clause (22A)” was inserted by the Finance Act, 1970, w.e.f. 1-4-1970.52. Inserted by the Finance Act, 1973, w.e.f. 1-4-1974.53. Words “or clause (23)” omitted by the Finance Act, 2002, w.e.f. 1-4-2003.54. Inserted by the Finance Act, 1987, w.e.f. 1-4-1988.55. Inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976.56. Inserted by the Finance Act, 1983, w.e.f. 1-4-1984.