![]() National Defence Fund set up by the Central Government.List of Donations to be considered for 100% Deduction without Qualifying Limit under Income Tax Act To be able to claim this deduction the following details have to be submitted in your Income Tax ReturnĤ. Information required for claiming the deduction Any donation for more than the said value should be made in other than cash mode to be considered as a deduction under this section.Īlso Read: Which one should you choose: A Trust, Society or Section 8 Company?Īmount of Donation: The various donations specified in section 80G are eligible for a deduction of up to either 100% or 50% with or without restriction, as provided in section 80G. 2000/- shall not be considered as a deduction. 10,000/- will not be qualified as an eligible deduction under this section.Īfter demonetization, from the financial year 2017-18, there was an amendment in this section which was as follows: Any contribution made in cash exceeding Rs. ![]() However, there is a bar on contributing in-cash. The deduction can only be claimed if the funds have been deposited to charitable institutions in cash or cheque. do not cover under the ambit of this section. How one can donate the funds:Īny donations made in-kind for example, food, materials, clothes, water, medicines, etc. Now, the question is – “Who can claim such deductions” or you can ask, “Under whose name one can donate the fund to get into eligibility criteria of Section 80G”? The answer would be – This deduction can be claimed by any taxpayer- Individuals, Companies, Firms or any other Person, AOP, Body corporates, etc. We will talk about those prescribed funds which are eligible to be considered as deductions under the section. This section does not cover all types of donations and charity for deduction under Income Tax. Section 80G applies to donations made to specific Relief Funds and Charitable Institutions that can be applied for deduction under Section 80G of the Income Tax Act. In this article, we will discuss Section 80G of the Income Tax Act. To encourage such gestures, the government has brought in rules under the Income-tax Act allowing you to get a tax deduction on the charity and donations made to any Charitable Organizations. It is a praiseworthy thing to donate for a reason that ultimately helps a small or large section of the society. There is a saying – Giving is not just about making a donation, it’s about making a difference.
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