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Date: 23-Apr-2024 Category: Extra Ordinary State: Union Government Country: India

Notification under section 80G(2)(b) of the Income Tax Act 1961 in the case of Shree Ramanuj Kot Trust Indore

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification declares “Shree Ramanuj Kot Laxmi Venkatesh Mandir”, managed by Shree Ramanuj Kot Trust, Indore, Madhya Pradesh, as a place of historic importance and public worship throughout Madhya Pradesh for the purposes of Section 80G of the Income-tax Act, 1961.
  • This allows donors to the temple to claim deductions under Section 80G of the Income-tax Act, 1961 for donations made towards the renovation or repair of the temple.

Key Changes

  • “Shree Ramanuj Kot Laxmi Venkatesh Mandir” is notified as a place of historic importance and public worship under Section 80G of the Income-tax Act, 1961.
  • The notification is valid only for renovation or repair of the temple.
  • The total amount of donations eligible for deduction is capped at Rs. 1,63,06,311 (Rupees One Crore Sixty Three Lakhs Six Thousand Three Hundred and Eleven only).
  • The notification will cease to be effective once the specified amount is collected or on March 31, 2029, whichever is earlier.

Impact Analysis

Shree Ramanuj Kot Trust

  • Action item: The trust should track the total donations received to ensure that it does not exceed the limit of Rs. 1,63,06,311.

Donors

  • Action item: Donors should keep track of the validity period of the notification, which is until the specified amount is collected or March 31, 2029, whichever is earlier.

Income Tax Department

  • Action item: The Income Tax Department will need to process deduction claims made by donors under Section 80G for donations to the temple, subject to the specified conditions and limits.

General Public

  • Positive impact: Enhanced preservation and maintenance of the “Shree Ramanuj Kot Laxmi Venkatesh Mandir” due to increased funding.

Key Entities Referenced

Central Board of Direct Taxes (CBDT): The issuing authority for the notification, under the Ministry of Finance (Department of Revenue). Shree Ramanuj Kot Trust, Indore: The trust managing the “Shree Ramanuj Kot Laxmi Venkatesh Mandir” (PAN: AAATR0970L). Shree Ramanuj Kot Laxmi Venkatesh Mandir: The temple located in Indore, Madhya Pradesh, which is the subject of the notification. Income-tax Act, 1961: The relevant legislation under which the notification is issued, specifically referencing Section 80G.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-23042024-253826 CG-DxLx-xEG-I2D3H0x4x2x0 24-253826 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 1684] नई दिल्ली, मगं लिार , अप्रैल 23, 2024/ििै ाख 3, 1946 No. 1684] NEW DELHI, TUESDAY, APRIL 23, 2024/VAISAKHA 3, 1946 जित्त मंत्रालय (रािस्ट्ि जिभाग) (केंद्रीय प्रत्यक्ष कर बोड)ड अजधसचू ना नई दिल्ली, 23 अप्रैल, 2024 (आयकर) का.आ. 1771(अ).— आयकर अजधजनयम, 1961 (1961 का 43) की धारा 80छ की उप-धारा(2) के खण्ड (ख) द्वारा प्रित् त िजियों का प्रयोग करत े हुए, केन्द्द्र सरकार एतिद्वारा श्री रामानुि कोट न्द् यास, इंिौर, मध् यप्रिेि (पनै : AAATR0970L) द्वारा संचाजलत “श्री रामानुि कोट लक्ष्म ी िेंकटेि मंदिर” को उक्त धारा के प्रयोिनों के जलए मध् य प्रििे राज्य भर में ऐजतहाजसक महत् ि के स्ट् थल तथा प्रजसद्ध प्राथनड ा स्ट्थ ल के रूप में अजधसूजचत करती ह।ै यह अजधसूचना “श्री रामानुि कोट लक्ष्म ी िेंकटेि मंदिर” के केिल निीनीकरण अथिा मरम् मत के जलए 1,63,06,311/- (एक करोड़ जतरसठ लाख छह हिार तीन सौ ग् यारह रुपये मात्र) की सीमा तक िैध रहगे ी तथा कजथत राजि के सग्रं जहत होन े के बाि अथिा दिनांक 31.03.2029 को, िो भी पहले हो, प्रभािी नहीं रहगे ी। [अजधसूचना स.ं 40/2024/ फा. सं. 176/2/2023-आईटीए-I] जिकास ससंह, जनिेिक 2673 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINSTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 23rd April, 2024 (Income Tax) S.O. 1771(E).— In the exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Shree Ramanuj Kot Laxmi Venkatesh Mandir” managed by Shree Ramanuj Kot Trust, Indore, Madhya Pradesh (PAN: AAATR0970L) to be place of historic importance and a place of public worship of renown throughout the state of Madhya Pradesh for the purposes of the said section. The Notification will be valid only for the renovation or repair of the “Shree Ramanuj Kot Laxmi Venkatesh Mandir” to the extent of Rs. 1,63,06,311/-(Rupees One Crore Sixty Three Lakhs Six Thousand Three Hundred and Eleven only) and will cease to be effective after the said amount has been collected or on 31.03.2029, whichever is earlier. [Notification No. 40/2024/ F. No. 176/2/2023-ITA-I] VIKAS SINGH, Director Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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