Income Tax : Explore significant changes in ITR forms for FY 2023-24: deadlines, EVC for audits, reporting modifications, taxation updates, and...
Income Tax : Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions...
Income Tax : Explore the recent Income Tax notices targeting donors to Registered Unrecognized Political Parties (RUPPs) for AY 2019-20. Uncove...
Income Tax : According to the Income Tax Act, 1961, donations made to political parties are eligible for tax deductions. Section 80GGC of the I...
Income Tax : Income Tax department issued notices to taxpayers who claimed deduction under section 80GGB & 80GGC for donations made to politica...
Income Tax : ITAT Ahmedabad dismisses appeal against revision order denying 80GGC deduction for donation to a political party, emphasizing the ...
Explore significant changes in ITR forms for FY 2023-24: deadlines, EVC for audits, reporting modifications, taxation updates, and more. Stay informed!
ITAT Ahmedabad dismisses appeal against revision order denying 80GGC deduction for donation to a political party, emphasizing the need for genuine receipts.
Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions for claiming them in India.
Explore the recent Income Tax notices targeting donors to Registered Unrecognized Political Parties (RUPPs) for AY 2019-20. Uncover the issues surrounding these parties, including non-compliance and violation of statutory requirements. Delve into the income tax implications and understand how genuine donors can navigate this challenging situation. Stay informed about recent legal precedents, such as the case of ACIT v. Armee Infotech, providing insights into deduction claims for donations to political parties under section 80GGC.
According to the Income Tax Act, 1961, donations made to political parties are eligible for tax deductions. Section 80GGC of the Income Tax Act provides tax deductions for contributions made to political parties.
Income Tax department issued notices to taxpayers who claimed deduction under section 80GGB & 80GGC for donations made to political parties.
Discover tax deductions for contributions to political parties under Sections 80GGB & 80GGC of the Income Tax Act, 1961, including eligibility criteria and quantum of deductions.
Learn how Indian laws combat cash transactions through measures like demonetization, Benami Transactions Act, and Income-tax Act. Understand penalties and compliance to ensure financial transparency.
Understand the Income Tax provisions in India regarding cash transactions, including penalties and restrictions on accepting loans or deposits in cash.
Section 80GGB & Section 80GGC: – Deduction in respect of contributions given to political parties. Bare Act Section 80GGB – Contribution done by an Indian Company – Political Contribution In computing the total income of an assessee, being an Indian company, there shall be deducted any sum contributed by it, in the previous year to […]
