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What is Deduction in respect of contributions given by companies to political parties? What is Deduction in respect of contributions given by any person to political parties? Section 80GGB and 80GGC of Income Tax Act 1961

Deduction in respect of contributions given by companies to political parties and Deduction in respect of contributions given by any person to political parties are defined under section 80GGB and 80GGC of Income Tax Act 1961. Provisions under these Sections are:

Section 80GGB of Income Tax Act "Deduction in respect of contributions given by companies to political parties"

Section 80GGB. 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 any political party or an electoral trust:
55[Provided that no deduction shall be allowed under this section in respect of any sum contributed by way of cash.]
Explanation.—For the removal of doubts, it is hereby declared that for the purposes of this section, the word "contribute", with its grammatical variation, has the meaning assigned to it under section 293A of the Companies Act, 1956 (1 of 1956).

 

Section 80GGC of Income Tax Act "Deduction in respect of contributions given by any person to political parties"

80GGC. In computing the total income of an assessee, being any person, except local authority and every artificial juridical person wholly or partly funded by the Government, there shall be deducted any amount of contribution made by him, in the previous year, to a political party or an electoral trust :
Provided that no deduction shall be allowed under this section in respect of any sum contributed by way of cash.
Explanation.—For the purposes of sections 80GGB and 80GGC, "political party" means a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951).

Income Tax Act 1961

What is Deduction in respect of health insurance premia? Section 80D of Income Tax Act 1961

What is Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability? Section 80DD of Income Tax Act 1961

What is Deduction in respect of medical treatment, etc? Section 80DDB of Income Tax Act 1961

What is Deduction in respect of interest on loan taken for higher education? Section 80E of Income Tax Act 1961

What is Deduction in respect of interest on loan taken for residential house property? Section 80EE of Income Tax Act 1961

What is Deduction in respect of donations to certain funds, charitable institutions, etc? Section 80G of Income Tax Act 1961

What is Deductions in respect of rents paid? Section 80GG of Income Tax Act 1961

What is Deduction in respect of certain donations for scientific research or rural development? Section 80GGA of Income Tax Act 1961

What is Deduction in respect of contributions given by companies to political parties? What is Deduction in respect of contributions given by any person to political parties? Section 80GGB and 80GGC of Income Tax Act 1961

What is Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas? Section 80HH of Income Tax Act 1961

What is Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas? Section 80HHA of Income Tax Act 1961

What is Deduction in respect of profits and gains from projects outside India? Section 80HHB of Income Tax Act 1961

What is Deduction in respect of profits and gains from housing projects in certain cases? Section 80HHBA of Income Tax Act 1961

What is Deduction in respect of profits retained for export business? Section 80HHC of Income Tax Act 1961

What is Deduction in respect of earnings in convertible foreign exchange? Section 80HHD of Income Tax Act 1961

What is Deduction in respect of profits from export of computer software, etc? Section 80HHE of Income Tax Act 1961

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