80g tax exemption
Posted: Saturday December 28
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section 80g of the income tax act, 1961 licenses benefactors to societies registered u/s 80g revenues of pay task exemption on their present. all ngos ought to try and get enlistment under section 80g.
location 80g of the income tax act empowers an income tax payee to claim conclusively for presents made by them to a particular association. this conclusion is responsible for particular conditions.
the measure of finding relies on:-.
a). to whom the gift has been made.
b). the measure of the present. they are excused from 100 % to half of the measure of the gift.
no. all gifts are not qualified for the conclusion of u/s 80g. just those gifts qualify which is made to specific establishments, beneficent organizations signed up or defined under u/s 80g.
organizations:-.
a). a few institutions of national significance, like, national defense fund, executive's national relief fund, executive's drought relief fund and so on, are explicitly stated in section 80g tax exemption.
the chief commissioner of earnings tax can affirm companies under this segment. prior religious organizations were clearly not permitted to be employed u/s 80g registration.
• Location: New Delhi
• Post ID: 187774