New income tax return forms for Assessment Year 2026-27 demand greater detail on political party donations. Taxpayers seeking ...

Charity is another method for saving tax in India. Sections 80G, 80GGA, 80GGB, and 80GGC cover provisions that make your donations tax deductible. Tax breaks on political donations are offered in two ...

To claim benefits under Section 80GGC, taxpayers must now clearly mention the political party involved and submit its PAN ...

This is the primary provision for claiming deductions on donations made to designated charitable institutions or funds. The deductible amount can vary based on the type of institution and the nature ...

The issue was whether penalty applies when a bogus donation claim is withdrawn after detection. The Tribunal held that post-detection withdrawal is not voluntary, and penalty for misreporting was ...

There is a thin line of difference between tax saving and tax evasion; and this is always tested when any person claims a deduction under section 80GGB/80GGC of the Income Tax Act, 1961. As per ...

The Income Tax Department has launched a new initiative called TAXASSIST, aimed at assisting taxpayers who have received notices regarding their claims for deductions on political donations. This move ...

Donations to political parties are prone to misuse. Several taxpayers who reported making donations to political parties and claimed deductions under Section 80GGC have started receiving messages from ...

New ITR forms for AY 2026 27 require detailed donation data under Section 80G, including transaction reference and IFSC, ...