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Received a message about Section 80GGC deduction from the Income tax department? Here's what to do
The Income tax department has recently sent messages to numerous taxpayers regarding claims of deductions under Section 80GGC. A typical message reads as follows: Dear Taxpayer, XXXXX SINGH ...
The Financial Express9d
Income Tax crackdown! Donors to political parties under scanner – Are you on the list?
According to reports, about 9,000 people donated Rs 5 lakh or more in the financial year 2020-21 and claimed tax exemption ...
Tax Guru11d
Income Tax Crackdown on Dubious Political Donations: What Donors Must Know
Donors write cheques to obscure political parties. Parties return the amount in cash after deducting 1-3% as commission. Donors claim tax deductions under Section 80GGC (for individuals) or 80GGB (for ...
The Free Press Journal9d
Income Tax Dept Cracks Down On ₹4,500 Crore Dubious Political Donations, Sends Notices To 9,000 Donors
A scrutiny of political donation records revealed that 9,000 individuals donated ₹5 lakh or more in FY 2020-21 and claimed tax exemptions under Section 80GGC in return. “The donors gave money ...