Income Tax : Income Tax authorities are increasingly reopening assessments involving political donation deductions claimed under Section 80GGC....
Income Tax : This examines why deductions under section 80GGC are being questioned in assessments. The key takeaway is that compliance with sta...
Income Tax : The issue concerned whether deductions under section 80GGC could be denied solely on investigation inputs alleging accommodation e...
Income Tax : India's Income Tax Department initiates nationwide verification against bogus deduction and exemption claims, warning taxpayers of...
Income Tax : Understand tax benefits under Sections 80GGB & 80GGC for political donations, eligibility rules, compliance needs, and recent lega...
Income Tax : The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction...
Income Tax : The Tribunal held that mere disallowance of deduction claimed under Section 80GGC does not automatically amount to misreporting of...
Income Tax : The Tribunal upheld disallowance of deduction under Section 80GGC after finding the political donation lacked genuineness. The rul...
Income Tax : The Tribunal held that notice under Section 148 was invalid as it was issued by an officer lacking jurisdiction. It relied on CBDT...
Income Tax : The Tribunal upheld disallowance of deduction where donations were routed back to donors through layered transactions. The key tak...
Understand tax benefits under Sections 80GGB & 80GGC for political donations, eligibility rules, compliance needs, and recent legal developments.
Received an IT notice on political donations? Understand why, what to do, and avoid penalties. Expert advice to respond effectively.
Received an SMS about Section 80GGC deductions? Learn why the Income Tax Department is scrutinizing claims and what steps to take if you’ve donated or made an error.
Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and the risks of bogus donations.
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.
