What is Section 80GGC? Section 80GGC provides for tax deductions with respect to donations made by taxpayers towards political parties or any electoral trusts. Section 80GGC of the Income Tax Act was introduced to bring about transparency in electoral …

Jan 28, 2025 · What are the points to consider for a valid Section 80GGC deduction? What should you do with the 80GGC SMS? Should you revise your income-tax return by 31st March 2025 for 80GGC donation?

Oct 1, 2019 · Section 80GGC provides deduction towards donations / contribution made to a political party or an electoral trust. It is worthwhile to note here that deduction under section 80GGC is covered under Chapter VIA deduction.

Jan 29, 2025 · The Income Tax Department has started verifying donation deductions those who claimed deduction under Section 80GGC in ITRs for AY 2023-24 and AY 2024-25. Taxpayers who claimed this deduction are receiving message to verify their claims and take necessary actions by 31.03.2025.

Jan 29, 2025 · Section 80GGC of the Income Tax Act, 1961, allows individuals to claim a deduction for contributions made to registered political parties or electoral trusts, provided the payment is made through non-cash modes such as cheques, drafts, or electronic transfers.

Feb 4, 2025 · Under Section 80GGC, any amount contributed to an electoral trust or a registered political party (as per Section 29A of the Representation of the People Act, 1951) can be claimed as a tax deduction. The donations made u/s 80GGC of income tax act are 100% tax deductible.

Jan 17, 2025 · Section 80GGC allows individual taxpayers to claim a 100% tax deduction on non-cash donations made to registered political parties or electoral trusts. Let’s understand in detail. Donating to political parties is a common practice in India, particularly among salaried individuals and businesses.

Apr 2, 2024 · Section 80GGC of the Income Tax Act provides a deduction for taxpayers who have donated to political parties. The quantum of contribution can be extended up to a maximum of 10% of the Gross Total Income.

4 days ago · Section 80GGC is one such section that allows users to claim tax deductions for contributions done to political parties. Under Section 80GGS of Income Tax Act, 1961, any contribution to the electoral trust or political party by any individual in the previous year can be claimed for tax deductions.

Section 80GGC allows any Individual to donate to political Party or Electoral Trust in India to save income tax. This is allowed to encourage more donations to be done to political parties in India for Development purpose.