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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Tax Breaks for Political Funding: Sections 80GGB and 80GGC Enable Corporate and Individual Contributions to Registered Parties</h1> The statutory amendment introduces two new sections to the Income-tax Act, 80GGB and 80GGC, providing tax deductions for contributions to political parties. Section 80GGB allows Indian companies to claim deductions for political party contributions, while 80GGC extends similar provisions to other individuals, excluding local authorities and government-funded entities. The sections define political parties as those registered under the Representation of the People Act, 1951, and clarify the meaning of 'contribute' based on the Companies Act, 1956.
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