Which of the donations is eligible for 100 deduction?
Donations to the Government or to any such local authority, institution or association as may be approved in this behalf by the Central Government, to be utilised for the purpose of promoting family planning are entitled for 100 percent deduction subject to qualifying limit of 10 percent of adjusted gross total income.
Which donations are tax deductible in India?
A taxpayer can claim a deduction in respect of donations to certain funds/ institutions under section 80G. For claiming deduction, a donor should not forget to take the donation receipt containing name, PAN, address and registration number of the donee along with the name of donor, amount donated and mode of payment.
How do I claim 80G deduction?
The return earned from Employee Provident Fund (EPF), including the interest, is eligible for tax exemption under Section 80C of the Income Tax Act, 1961. It is only eligible for employees who have continued his or her service for at least 5 years.
Which donations qualify for tax deductions?
Donations to the National Defense Fund, Prime Minister’s National Relief Fund, The National Foundation for Communal Harmony, National/State Blood Transfusion Council, etc. qualify for such deductions.
Are charitable contributions to relief funds tax deductible?
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations, however, are not eligible for deductions under section 80G. Only donations made to prescribed funds qualify as a deduction.
Can you deduct donations under 80G?
Under 80G, the amount donated to notified funds or institutions can be claimed as deduction at the time of filing income tax return. Only donations made to institutions registered under section 80G or to the funds prescribed therein can qualify as deduction. Who is eligible for deduction u/s 80G?