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Tax exemption under section 80g

A tax deduction under section 80g of income tax act is available for some contributions or donations. To be eligible for these certificates, NGOs and other non-profit organisations must register and be approved by the Income Tax Department.

Deduction under section 80g of the income tax act

For amounts paid by the taxpayer as a contribution to any fund, institution, or charity Trust, a deduction under section 80g of income tax is permitted. Under the Income Tax Act, not all gifts are handled similarly. Donations to specific organisations and funds are eligible for 100% or 50% of the donation as a tax deduction, with no upper limit. However, depending on the qualifying amount, certain gifts are eligible for 100% or 50% deductions.

Double taxation relief of registration

The Central Government may enter into concurrence with the Government of any nation outside India or a specified region outside India.

Transfer of income where there is no transfer of assets

All salary going out to an individual by the goodness of an exchange of tax deduction should(if there is no exchange of the holdings from which the wage goes out) be chargeable for pay to assess as the salary of the transferor and ought to be incorporated in his aggregate salary.

Power to take evidence on oath

For the objectives of this Act, the Assessing Officer, Asset value Officer, Deputy Commissioner (Appeals), Commissioner (Appeals), Chief Commissioner, or Commissioner, as well as the Appellate Tribunal, shall have the same powers as those granted to a court under the Code of Civil Procedure, 1908 (5 of 1908), when trying a suit pertaining to the following matters, namely:-

Conditions for sections 11 and 12's applicability

If any of the following requirements are not met, the provisions of sections 11 and 12 will not be applicable to any trust or institution's income:-

Profits chargeable to tax

When a loss, expense, or trade responsibility incurred by the taxpayer and afterwards during any prior year has been taken into account in the assessment for any year:-

Transfer of property act, 1882

Commencement

Beginning on July 1st, 1882, it shall go into effect.

Extent

Deduction for donations made to certain charities, funds etc.

You can browse the important URL at 80g certificate.

According to and subject to the requirements of this section, the following must be subtracted from the assessee's total income:-

Income tax from house property

The Income Tax Act of 1961 states that income derived from real estate is taxable.

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