Income Tax Department issues update for donation claims under section 80G
The Income Tax Department has issued an update dated August 12th, 2022 which is as below. This update is important from the point of view of those taxpayers who are making claims for donations under section 80G of the Income Tax Act, 1961. Please read as under:
- The Statement of Donation in Form 10BD and Certificate of Donation in Form 10BE is only applicable to the fund or institutions approved under sub-clause (iv) of clause (a) of sub-section (2) of Section 80G i.e. Category D- Donation entitled to 50% deduction without qualifying limit.
- In respect of donations that fall in any other category (excluding category D), the deduction under Section 80G of the Act shall be allowed to an assessee based on the claim made by him in his return of income. For example: Donations made to PMNRF and PM Cares Fund etc.
