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Author Topic: Deductions for Charity (80G), Rent Paid (80GG), Donations (80GGA, 80GGC)  (Read 26719 times)
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« on: June 26, 2008, 07:50:04 AM »

Section 80G. Deduction in respect of donations to certain funds, charitable institutions
The deduction to certain funds and charitable institutions is allowed to any taxpayer, on the qualifying amount that is limited to 10 per cent of gross total income of the assessee reduced by income deducted under any section. Also, certain donations are eligible for 100% deduction and certain donations are eligible for 50% deduction of the qualifying amount.

Section 80GG. Deductions in respect of rent paid
In computing the total income, an assessee is allowed deduction of any expenditure incurred by him in excess of ten per cent of his total income towards payment of rent for any furnished or unfurnished accommodation for his own residence, such deduction is limited two thousand rupees per month or twenty-five per cent of his total income for the year, whichever is less, if the assessee meets the folowing conditions:

1. Assessee is self employed and/or a salaried person who did not get any house rent allowance in the previous year.
2. This deduction is not available in any case where any residential accommodation is—
(i)  owned by the assessee or by his spouse or minor child or, where such assessee is a member of a Hindu undivided family, by such family at the place where he ordinarily resides or performs duties of his office or employment or carries on his business or profession; or
(ii)  owned by the assessee at any other place, being accommodation in the occupation of the assessee, for which concession for self occupied property is claimed under section 23(2)(a) or 23(4)(a).

Explanation.—In this section, the expressions “ten per cent of his total income” and “twenty-five per cent of his total income” shall mean ten per cent or twenty-five per cent of the assessee’s total income before allowing deduction for any expenditure under this section, but after excluding long-term capital gain, short-term capital gain u/s 111A, income referred to in section 115A or 115D and amount deductible under sections 80C to 80U.

Section 80GGA. Deduction in respect of certain donations for scientific research or rural development
In computing the total income, an assessee will be allowed deduction for the sum paid in the previous year —

  • To a scientific research association or University, college or other institution for undertaking of scientific research, and approved for the purposes of section 35(1)(iii).
  • To a University, college or other institution to be used for research in social science or statistical research, and approved for the purposes of section 35(1)(iii).
  • To an association or institution, undertaking of any programme of rural development, to be used for carrying out any programme of rural development approved for the purposes of section 35CCA; or
  • To an association or institution for the training of persons for implementing programmes of rural development. Provided that the assessee furnishes the certificate referred to in section 35CCA(2) or 35CCA(2A) from such association or institution.
  • To a public sector company or a local authority or to an association or institution approved by the National Committee, for carrying out any eligible project or scheme. Provided that the assessee furnishes the certificate referred to in clause (a) of sub-section (2) of section 35AC from such public sector company or local authority or, as the case may be, association or institution.
  • To a rural development fund set up and notified by the Central Government for the purposes of clause (c) of sub-section (1) of section 35CCA.
  • To the National Urban Poverty Eradication Fund set up and notified by the Central Government for the purposes section 35CCA(d)(1).

Explanation. The deduction under section 80GGA is available even where after making the contribution to an eligible institution, the approval granted to the institution is withdrawn.

80GGC. Deduction in respect of contributions given by any person to political parties
Deduction is allowed to any person, except local authority and every artificial juridical person wholly or partly funded by the Government, for any amount contributed by him in the previous year to a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951).
« Last Edit: November 20, 2008, 07:55:50 AM by MyTaxes Support » Logged
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