Section 80GGC

Income Tax Law Relating To Cash Transactions

Income Tax - A number of new provisions have been introduced in the Income Tax Act from time to time to put restrictions on cash transactions as well as to incentivise the non-cash transactions. Cash transactions have always played a major role in the Indian Economy and consistently were responsible for generation and accumulation of Black Money. The ...

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E-Book- Know When to Say No to Cash Transactions -Income Tax Act

Income Tax - E-BOOK: KNOW WHEN TO SAY NO TO CASH TRANSACTIONS Article explain Restrictions on Cash Expenditure (Capital & Revenue),  Incentives to encourage cashless business transactions, Restrictions on Cash Loans, Deposits & Advances, Restrictions on Cash Transactions in Real Estate, Restrictions on Income Tax Deductions, Restrictions on C...

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Income Tax on Political Parties, Electoral Trusts, Electoral Bonds 

Income Tax - Political Parties, Electoral Trusts, Electoral Bonds and deductions/ Exemptions under the Income Tax Act, 1961 Political Parties and Election campaigns are an integral part of Indian democratic system. Let’s discuss in detail about the meaning, sources of income, taxability, exemptions and deductions to political parties, electoral ...

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Restrictions on Cash Transactions under Income Tax Act, 1961

Income Tax - In order to restrict cash transactions, the government has come out with several provisions and related rules to prohibit various types of cash payments in the Finance Acts. The effects of restrictions under provisions of income tax act are as follows: Restrict cash transactions by disallowances of expenses or deduction under chapter VIA ...

Read More

Cash Transaction Limit – When to Say No

Income Tax - Gradually, the Indian Economy is getting digitalized and ultimately moving towards a cashless economy. Electronic transactions ensure a clear money trail and make it very difficult for tax evaders. In a bid to curb black money as well as limit the number of cash transactions, the Government from time to time has introduced many new [&hell...

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Recent Posts in "Section 80GGC"

Income Tax Law Relating To Cash Transactions

A number of new provisions have been introduced in the Income Tax Act from time to time to put restrictions on cash transactions as well as to incentivise the non-cash transactions. Cash transactions have always played a major role in the Indian Economy and consistently were responsible for generation and accumulation of Black Money. The ...

Read More
Posted Under: Income Tax |

E-Book- Know When to Say No to Cash Transactions -Income Tax Act

E-BOOK: KNOW WHEN TO SAY NO TO CASH TRANSACTIONS Article explain Restrictions on Cash Expenditure (Capital & Revenue),  Incentives to encourage cashless business transactions, Restrictions on Cash Loans, Deposits & Advances, Restrictions on Cash Transactions in Real Estate, Restrictions on Income Tax Deductions, Restrictions on C...

Read More

Income Tax on Political Parties, Electoral Trusts, Electoral Bonds 

Political Parties, Electoral Trusts, Electoral Bonds and deductions/ Exemptions under the Income Tax Act, 1961 Political Parties and Election campaigns are an integral part of Indian democratic system. Let’s discuss in detail about the meaning, sources of income, taxability, exemptions and deductions to political parties, electoral ...

Read More
Posted Under: Income Tax |

Restrictions on Cash Transactions under Income Tax Act, 1961

In order to restrict cash transactions, the government has come out with several provisions and related rules to prohibit various types of cash payments in the Finance Acts. The effects of restrictions under provisions of income tax act are as follows: Restrict cash transactions by disallowances of expenses or deduction under chapter VIA ...

Read More
Posted Under: Income Tax |

Cash Transaction Limit – When to Say No

Gradually, the Indian Economy is getting digitalized and ultimately moving towards a cashless economy. Electronic transactions ensure a clear money trail and make it very difficult for tax evaders. In a bid to curb black money as well as limit the number of cash transactions, the Government from time to time has introduced many new [&hell...

Read More
Posted Under: Income Tax |

Story of Political Funding vis-a-vis Income Tax Provisions

Every Political Party, whether big or small, need funds to run its’ election campaigns, advertise heavily and buy votes to win the elections. With elections around the corner in various Legislative Assemblies and the upcoming elections of Lok Sabha in 2019, the political funding flight is on the runway to take-off....

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Posted Under: Income Tax |

Deduction under section 80GGC of Income Tax Act

Vide Finance Act 2009, deduction under section 80GGC was introduced mainly with an objective of achieving transparency into the electoral funding system and also reducing corruption to some extent. Section 80GGC provides deduction towards donations / contribution made to a political party or an electoral trust. It is worthwhile to note ...

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Posted Under: Income Tax |

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