Question
Download Solution PDFSection 80GGC of Income tax is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Deduction in respect of contribution given by any person to political parties
Key Points Section 80GGC:
- The section 80GGC of the Income Tax Act allows the deductions from the total income of an individual taxpayer for his/her contributions made towards electoral trust or political party
- Any individual taxpayer can claim deduction under section 80GGC.
- The artificial judicial person or local authority is not eligible to claim the deductions under this section.
- Contributions that qualify for the deductions, u/s 80GGC should be from the bank through cheque, internet banking, demand draft, debit/credit card, wire transfer.
- The contributions that an individual makes towards any political party or electoral commission in cash are not eligible for the deductions of Section 80GGC.
- Individuals who make donations to any political party can claim deductions of up to 100 per cent of their contribution to said party.
Last updated on Jul 17, 2025
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