Deduction in respect of contributions to political parties given by companies/ any person - Section 80GGB/80GGC - Income Tax - Ready Reckoner - Income Tax

Deduction in respect of contributions to political parties given by companies/ any person - Section 80GGB / 80GGC Section 80GGB: - Deduction in respect of contribution given by companies to political parties or electoral trust Who is Eligible? Indian Company To whom donation can be made? Political parties - The political party receiving the donation must be registered under the Section 29A of the Representation of the People Act, 1951. Electoral trust - An electoral trust is a non-profit company created under Section 8 of the Companies Act, 2013. Exceptions Donations made in cash are not allowed for deduction. Contributions made in kind are also not allowed for deduction. Amount of Deduction The whole amount of contribution is allowed as deduction to the extent of total taxable income. Section 80GGC :- Deduction in respect of contributions given by any person to political parties or electoral trust Who is Eligible? Any person, other than Local Authority Artificial Juridical Person, wholly or partly funded by Govt. To whom donation can be made? Political parties - The political party receiving the donation must be registered under the Section 29A of the Representation of the People Act, 1951. Electoral trust - An electoral trust is a non-profit company created under Section 8 of the Companies Act, 2013 . Exceptions Donations made in cash are not allowed for deduction. Contributions made in kind are also not allowed for deduction. Amount of Deduction The whole amount of contribution is allowed as deduction to the extent of total taxable income.