2024 List of political parties under 80ggc

List of political parties under 80ggc

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August undefined, 2024

Web31 mrt. 2024 · Related Party Name PAN: 1: Bhartiya Rashtriya Tantra Party: AAABB3797P: 2: Rashtrawadi Jantaraj Party: AAAJR1481J: 3: Navsarjan Bharat … Web6 mei 2024 · An Indian Company can claim the deduction under Chapter VI-A of any amount that is contributed/ donated through a bank to a Political Party or Electoral Trust. For the purposes of sections 80GGB, “Political party” means a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951).

Section 80G - Difference between Section 80GGB & 80GGC

Web30 jan. 2024 · Section 80GGC was introduced under the IT Act, 1961 to eliminate or at least significantly reduce this problem and make electoral funding more transparent. If you’ve donated money to any political party or electoral trust, you are allowed to claim deductions on the same under this section. Here are 3 things you should know about Section … Web26 jun. 2024 · Three little known political parties that allegedly managed to mobilise over Rs 1,000 crore in election donations are now said to be in the dock for serious financial fraud, including round tripping the money back to the donors after claiming income-tax exemptions. Gujarat-based Manav Adhikar National Party, Apna Desh party from Uttar … thumb fracture icd 10 code

Section 80G of Income Tax Act - Scripbox

Web4 apr. 2024 · Eligibility Criteria Under Section 80GGC 1. Funding Under this section, funding individuals, hindu undivided family (HUF), company, AOP or BOI and an Artificial Juridical Person can make a political contribution. Local authorities or artificial juridical persons wholly or partly funded by the government cannot make a contribution. 2. Benefits WebThe maximum tax deduction against donations to a political party or electoral trust under Section 80GGC is 100%. However, as this Section is under Chapter VIA deductions, the total deduction amount cannot exceed an individual's total taxable income. Moreover, tax deductions are not valid on TDS on a taxpayer's salary. Web19 aug. 2024 · Section 80GGB. Under 80GGB an enterprise/company can claim tax deductions for the amount donated to any political party. However, the donations should be done through a recorded mode and the political party should be registered under Section 29A of the People Act. To get an idea about the tax deductions on contribution to … thumb fpl tendon

Political Parties: 3 parties raising over Rs 1,000 crore in poll ...

Section 80GGC - Donation to Political Parties by Individuals

Web10 apr. 2024 · However, in a case where the addition is made under section 115 BBE, the penalty shall be restricted to 10% of the tax. Considering a donation of Rs. 1 Lakh made … Web30 dec. 2024 · Section 80GGC under the Income Tax Act, 1961 provides tax deduction benefits on donations made by any individual to political parties subject to certain … thumb fracture castWeb10 apr. 2024 · However, in a case where the addition is made under section 115 BBE, the penalty shall be restricted to 10% of the tax. Considering a donation of Rs. 1 Lakh made by the tax payer and in a case where he fails to prove the genuineness of the donation to the political party, the tax outgo including interest and penalty can range between Rs. … thumb fracture heal time

"Web13 jun. 2024 · Under Section 80 GGC, donations made to the electoral trust are also eligible for claiming the deduction. Any person can receive the donation, except someone … " - List of political parties under 80ggc

List of political parties under 80ggc

Section 80GGA, 80GGB and 80GGC of Income Tax Act

WebSection 80GGC of Income Tax permits people to donate to their favorite political parties and get tax rebates in return. This section has become quite favorable for Indian political parties and their supporters. Going forward, we will find the eligibility criteria for Section 80GGC refund. Eligibility Criteria of Section 80GGC Web30 jan. 2024 · Section 80GGB and 80GGC of the Income-tax Act, 1961 [1] mainly deals with donations and contributions made by an individual taxpayer and Indian Companies …

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WebThe acceptable sources of income are voluntary contributions under Representation of Peoples Act (RPA), 1951. Some other income sources are from membership fee, sale of coupons, etc. Section 13A of the RPA provides political parties 100% exemption on income from house property, income from other sources, voluntary contributions and … Web5 mei 2012 · Listed below are some little-known tax benefits that can help you save a considerable amount in taxes every year. Contributions to a political party If you have contributed any amount to a recognised political party, you are eligible to claim a tax deduction ranging from 50 percent to 100 percent of the amount under Section 80GGC …

Web2 dagen geleden · Nagpur: The fallout of last year’s income tax action against bogus donations to political parties is also been seen in Nagpur these days. ... The department is seeking a reply that why a notice under section 148 of the income tax act should not be issued to them. ... Web9 apr. 2015 · The amount of deduction allowed is 100% of the sum donated to the political party. Conditions to Claim Tax Deductions under 80GGC. There are certain conditions that ought to be satisfied to claim deduction u/s 80GGC : Donation must be paid in any of the mode apart from cash. This signifies that amount has to be given by cheque or net …

WebAny Sum contributed by an eligible assessee to any political party (registered u/s 29A of Representation of People Act) or Electoral Trust is eligible for deduction under Income Tax Act, 1961.; No deduction is allowable if contribution/Political Donation is made in cash (applicable from A.Y.2014-15). Eligible assessee means Indian co. and any other person … Web20 jun. 2024 · Submitted September 28, 2024. List of political parties registered from 01.04.2024 to 19.08.2024. By Political Party Division. 1. United Socialist Party. 2. …

Web8 sep. 2024 · Sources stated that section 80GGC of Income Tax says that an individual can donate any amount to any political party registered under section 29A of the Representation of the People Act.

Web19 uur geleden · Individuals who make contributions towards a political party can avail deductions for the same under Section 80GGC in the range of 50% - 100% of the contributed amount. As per the rules of the ... thumb fracture icd 9Web24 sep. 2024 · Donations to charitable organizations and trusts are tax deductible under Section 80G. Section 80GGB allows registered Indian firms to claim tax deductions for donations to political parties. Other taxpayers, such as individuals, HUFs, and corporations, can claim tax deductions for donations given to political parties under … thumb fracture managementWebSECTION 80GGC. SECTION 80GGB. The advantages are only accessible to certain taxpayers. Benefits apply to corporations. Any Indian corporation that contributes any amount to a political party or an electoral trust registered in India can claim a tax deduction for the amount contributed under Section 80GGB of the Income Tax Act 1961. thumb fracture nhsWebSection 80GGC of the Income Tax Act prohibits deductions for contributions made to political parties under the following circumstances: The donations are remitted by means of cash. Donations or contributions to political parties are made in kind and do not fall under the purview of Section 80GGC, which incorporates gifts whether made in cash or … thumb fracture treatmentWebThe following groups are specified under Article 80GGC to make a political contribution - individual, Individual Hindu Family (HUF), company, AOP or BOI and Legal Practitioner. Last person on the list must not be sponsored by the government. Tax benefits can also be made by making donations to many political parties instead of just one. thumb freezes up can\u0027t move itWeb14 jan. 2024 · A party seeking registration under the said Section with the Commission has to submit an application to the Commission within a period of 30 days following the date of its formation as per guidelines prescribed by the Commission in exercise of the powers conferred by Article 324 of the Constitution of India and Section 29A of the … thumb for a kubota l47 backhoeWebNATIONAL PARTIES 1. BJP Bharatiya Janata Party 2. BSP Bahujan Samaj Party 3. CPI Communist Party of India 4. CPM Communist Party of India (Marxist) 5. INC Indian National Congress 6. NCP Nationalist Congress Party 7. RJD Rashtriya Janata Dal STATE PARTIES 8. SP Samajwadi Party STATE PARTIES - OTHER STATES 9. AIFB All India … thumb fracture symptoms