All about Deduction under Section 80G of the Income Tax Act,raj kumar makkad
Income Tax Deductions under Section 80D Under Section 80D of the Income Tax Act, taxpayers can avail tax deductions for investments made towards Health Insurance Policy. The deduction is also applicable for investments towards Central Government Health Plan, made on behalf of immediate family members....
The Income Tax Appellate Tribunal (ITAT), Pune Bench has permitted the deduction beneath Section 35(1)(ii) of the Income Tax Act with respect to the donation. The taxpayer owner of MRC transolutions Pvt ltd furnished a donation of Rs 1.25 cr to the organization known as the school of hum...
Section 80G: Under section 80G, the donors of a section 8 company can ask for rebate of upto 50% of the donations made. Section 11: Under Section 11 of Income tax Act, Section 8 Companies are permitted deductions of expenditure from income. No minimum capital required: even...
UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23 CIRCULAR NO. 24/2022 NEW DELHI, the 07th December, 2022 Table of Contents 1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17) ...
So, the parameters for the eligibility of this rebate under section 87A of the Income Tax Act 1961 are mentioned below in steps? Step 1: To begin with, the income to be taken into consideration for the access to a rebate under section 87A is arrived at after setting off the ‘brought...
This exemption is granted underSection 12AA of the Income Tax Act, 1961.However, there are few exceptions: Income from commercial activities: If a Section 8 company generates income from activities unrelated to its charitable objectives, such as running a commercial restaurant, that income will be...
Section 8 Company is licensed under the Section 8 of the Companies Act, 2013. Under the Companies Act, 1956, this act was earlier known as the Section 25 Company. Author: Dushyant Sharma Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 yea...
an NGO must register on the Ministry of Corporate Affairs website, fill out the CSR Form 1, and submit necessary documents like the registration certificate, PAN, and details of activities. Upon verification and approval, the Ministry issues the CSR-1 certificate, authorising the NGO to receive...
Latest Amendment in Section 80G of Income Tax Actraj kumar makkadEmail thisPrint this