Section 80GGC allows taxpayers to claim deductions for contributions made to eligible political parties and electoral trusts.

Unlike donations to charitable trusts, there is no form or reporting mechanism under the Income Tax Act, 1961 for donations ...

In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister Nirmala Sitharaman instead made adjustments to the slabs, rates, and ...

Ahmedabad: The income tax (I-T) department issued notices to thousands of taxpayers who sought deductions for donations made to political parties unde.

The taxpayers filed updated income tax returns (ITRs) for assessment years from FY23 to FY25 after doing the corrections ...

Analysis of the information with the department showed that there is a vast mismatch between total deductions under section 80GGB/80GGC claimed by taxpayers in their ITRs as against the total receipts ...

These incorrect deductions are claimed under Section 80C (deposit/investment in ... to notified charitable institutions), 80GGB and 80GGC (donation to political parties/electoral trust) of the ...

As many as 90,000 salaried individuals, both from PSUs and the private sector, have withdrawn wrongful tax deductions claims totalling Rs 1,070 crore as of December 31, 2024, government sources ...

It is observed that you have claimed deduction under section 80GGC of Rs 600000 in your ITR for A.Y. 2022-23. It is requested that the claim may be verified and mistake, if any, may be rectified ...