Section 80G deduction: specified donations fully allowed and part of remaining eligible sums permitted for tax purposes. The Finance Act amends section 80G to substitute the formula for computing allowable deductions so that, when eligible aggregates include amounts of certain specified kinds, the deduction equals the whole of those specified amounts plus fifty percent of the balance; and inserts a new sub-clause adding a named registered trust to the list of eligible donees.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 80G deduction: specified donations fully allowed and part of remaining eligible sums permitted for tax purposes.
The Finance Act amends section 80G to substitute the formula for computing allowable deductions so that, when eligible aggregates include amounts of certain specified kinds, the deduction equals the whole of those specified amounts plus fifty percent of the balance; and inserts a new sub-clause adding a named registered trust to the list of eligible donees.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.