List of political parties under 80ggc

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August undefined, 2024

Web#CASansaar #IncomeTax #80GGC100% Deduction allowed to Individual / Companies by Donation to Political Parties under section 80GGB / 80GGC of the Income Tax A... Web6 mei 2024 · An Indian Company can claim the deduction under Chapter VI-A of any amount that is contributed/ donated through a bank to a Political Party or Electoral Trust. For the purposes of sections 80GGB, “Political party” means a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951).

Deduction in respect of contributions given by any person to political …

Web30 jan. 2024 · Section 80GGB and 80GGC of the Income-tax Act, 1961 [1] mainly deals with donations and contributions made by an individual taxpayer and Indian Companies towards political parties. The cashless amount that is donated to any political party registered under Section 29A is eligible for 100% deductions. Section 80GGB WebThe following groups are specified under Article 80GGC to make a political contribution - individual, Individual Hindu Family (HUF), company, AOP or BOI and Legal Practitioner. Last person on the list must not be sponsored by the government. Tax benefits can also be made by making donations to many political parties instead of just one. fishing cabins in missouri

Section 80GGC: Tax Benefits to Individuals on Political …

WebSection 80GGC of the Income Tax Act prohibits deductions for contributions made to political parties under the following circumstances: The donations are remitted by means of cash. Donations or contributions to political parties are made in kind and do not fall under the purview of Section 80GGC, which incorporates gifts whether made in cash or … Web19 uur geleden · Section 80GGC Deduction Section 80GGC deduction of the Income-tax Act is allowed from gross total income of an individual assessee for contributions made to a political party or an electoral trust. The entire amount of contribution made under Section 80GGC will be eligible for tax deduction. Web—For the purposes of sections 80GGB and 80GGC, “political party” means a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951). 17. Inserted by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010. 18. Inserted by the Finance Act, 2013, w.e.f. 1-4-2014. can bands have the same name

80GGC - Tax Deduction Under Section 80GGC on Donations

Section 80GGC - Donation to Political Parties by Individuals

Web5 mei 2012 · Listed below are some little-known tax benefits that can help you save a considerable amount in taxes every year. Contributions to a political party If you have contributed any amount to a recognised political party, you are eligible to claim a tax deduction ranging from 50 percent to 100 percent of the amount under Section 80GGC … Web19 aug. 2024 · Section 80GGB. Under 80GGB an enterprise/company can claim tax deductions for the amount donated to any political party. However, the donations should be done through a recorded mode and the political party should be registered under Section 29A of the People Act. To get an idea about the tax deductions on contribution to … can bands build muscleWeb13 jun. 2024 · Under Section 80 GGC, donations made to the electoral trust are also eligible for claiming the deduction. Any person can receive the donation, except someone … fishing cabins in montana

"WebThe following groups are specified under Article 80GGC to make a political contribution - individual, Individual Hindu Family (HUF), company, AOP or BOI and Legal Practitioner. … " - List of political parties under 80ggc

List of political parties under 80ggc

Web10 nov. 2024 · For the purposes of sections 80GGB and 80GGC, “political party” means a political party registered under section 29A of the Representation of the People Act, 1951 Key difference between Section 80G, Section 80GGA, Section 80GGB and Section 80GGC Web28 sep. 2024 · Deduction Under Section 80GGC Individuals who contribute to any political party or electoral trust may avail tax deduction up to 100% of their contribution to that …

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Web24 mrt. 2024 · Donation To Political Party Deduction. Here is the list of the 80GGC exemption limit: 100% of a taxpayer’s donation to a registered electoral trust or political party can be claimed. However, since this section is under Chapter VIA deductions, the total deduction cannot surpass the total income of an individual donating. People Also … Web26 jun. 2024 · After scrutiny, the ECI has taken action against more than 2,100 registered unrecognised political parties for flouting rules. Uttar Pradesh-based Jan Raajya Party, …

Web10 apr. 2024 · However, in a case where the addition is made under section 115 BBE, the penalty shall be restricted to 10% of the tax. Considering a donation of Rs. 1 Lakh made by the tax payer and in a case where he fails to prove the genuineness of the donation to the political party, the tax outgo including interest and penalty can range between Rs. … WebExplanation. —For the purposes of sections 80GGB and 80GGC, “political party” means a political party registered under section 29A of the Representation of the People Act, …

Web24 sep. 2024 · Donations to charitable organizations and trusts are tax deductible under Section 80G. Section 80GGB allows registered Indian firms to claim tax deductions for donations to political parties. Other taxpayers, such as individuals, HUFs, and corporations, can claim tax deductions for donations given to political parties under … Web20 jun. 2024 · Submitted September 28, 2024. List of political parties registered from 01.04.2024 to 19.08.2024. By Political Party Division. 1. United Socialist Party. 2. …

WebAny Sum contributed by an eligible assessee to any political party (registered u/s 29A of Representation of People Act) or Electoral Trust is eligible for deduction under Income Tax Act, 1961.; No deduction is allowable if contribution/Political Donation is made in cash (applicable from A.Y.2014-15). Eligible assessee means Indian co. and any other person …

Web26 okt. 2024 · Hello Tax gurus, I have mode some donation to political party under section 80GGC. But My employer is not accepting that Donation saying that it is not listed in "DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 ". Please guide is there any such rule to not accepting 80GGC … fishing cabins in iowaWeb4 apr. 2024 · Section 80GGC deals with the benefit to those making donations to a political party. However, all donations to a political party are not eligible for benefit under this … fishing cabins in coloradoWebNATIONAL PARTIES 1. BJP Bharatiya Janata Party 2. BSP Bahujan Samaj Party 3. CPI Communist Party of India 4. CPM Communist Party of India (Marxist) 5. INC Indian National Congress 6. NCP Nationalist Congress Party 7. RJD Rashtriya Janata Dal STATE PARTIES 8. SP Samajwadi Party STATE PARTIES - OTHER STATES 9. AIFB All India … can bandsaw cut metalWebThe maximum tax deduction against donations to a political party or electoral trust under Section 80GGC is 100%. However, as this Section is under Chapter VIA deductions, the total deduction amount cannot exceed an individual's total taxable income. Moreover, tax deductions are not valid on TDS on a taxpayer's salary. can band vitamin c songWeb8 sep. 2024 · Sources stated that section 80GGC of Income Tax says that an individual can donate any amount to any political party registered under section 29A of the Representation of the People Act. fishing cabins in southern michiganWebSECTION 80GGC. SECTION 80GGB. The advantages are only accessible to certain taxpayers. Benefits apply to corporations. Any Indian corporation that contributes any amount to a political party or an electoral trust registered in India can claim a tax deduction for the amount contributed under Section 80GGB of the Income Tax Act 1961. fishing cabins for sale ontario canadaWebSection 80GGC is a section of the Income Tax Act, 1961 that has provisions for tax deductions of donations or contributions made by an individual taxpayer towards … can bandwidth be negative