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Thereafter, the registration has to be renewed. Generally, the Income Tax Department issues the registration for a limited period (of 2 years) only. This number must be printed on the receipt. of the Trust Under 80G on receipt:- The most important requirement is the Registration number issued by the Income Tax Department under Section 80G. Without form 58, the claim for 100% deduction could be rejected even if the receipt mentions 100% deduction. Form 58 contains the details of project cost (for which the donation is received), amount authorised under this project and the actual amount collected. In case of donation which are eligible for 100% deduction recipient should also insist on form 58 from trust. The receipt must contain the name, address & PAN of the Trust, the name of the donor, the amount donated (please ensure that the amount written in words and figures tally). Stamped receipt: For claiming deduction under Section 80G, a receipt issued by the recipient trust is a must.Documentation Required for Claiming deduction U/s. If aggregate of the sums donated exceed 10% of the adjusted gross total income, the amount in excess of 10% ceases to be entitled for tax benefit.Ħ. Maximum allowable deduction under section 80G those made to prescribed funds and institutions. Tax benefits can be claimed only on specific donations i.e. Only donation made to prescribed funds and institutions qualify for section 80G deductionĪll donations are not eligible for tax benefits. However deduction for contribution ( other than cash contribution) to political parties can be claimed u/s 80GGB/80GGC 4. You cannot claim deduction under section 80G for donations made to political parties for any reason, including paying for brochures, souvenirs or pamphlets brought out by such parties. 80G on Donation to Foreign Trustĭonations made to foreign trusts do not qualify for deduction under section 80G. Section 80G does not restrict the deduction to individuals, companies or any specific category of taxpayer.
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80G is Allowable to all kind of AssesseeĪny person or ‘assessee’ who makes an eligible donation is entitled to get tax deduction under section 80G subject to conditions.
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Donations with 50% deduction under section 80G without any qualifying limit. Donations with 100% deduction under section 80G without any qualifying limit: Limit on donation amount under section 80G Deduction under section if donation deducted from Salary and donation receipt certificate is on the name of employer Only donations in cash/cheque are eligible for the tax deduction under section 80G Only donation made to prescribed funds and institutions qualify for section 80G deduction