Which donation is eligible for deduction?
Section 80GGA allows deductions for donations made towards scientific research or rural development. This deduction is allowed to all assessees except those who have an income (or loss) from a business and/or a profession. Mode of Payment: Donations can be made in the form of a cheque, a draft, or cash.
Which donation is eligible for 100%?
(C) Donations U/s 80G to the following are eligible for 100% Deduction subject to Qualifying Limit: Donation to Government or any approved local authority, institution or association to be utilised for promoting family planning. the sponsorship of sports and games, in India.
How much deduction is allowed under 80G?
*Deduction under Section 80G is limited to a maximum of 10% of the Gross Total Income. The balance income after deductions of donations would be taxable as per the income tax slabs of the taxpayer.
What is 80GGC in income tax?
Section 80GGC of the Income Tax Act provides a deduction for taxpayers who have made donations to political parties. The quantum of contribution can be extended upto a maximum of 10% of the Gross Total Income.