Section 80GGC: Political Party Donation#
What is 80GGC?#
Deduction for contributions to political parties.
Who Can Claim?#
- Individual (not company)
- Any person
Deduction#
100% of contribution
Conditions#
- Donation by cheque/draft/online
- Not in cash
- Political party registered
- Party must have PAN
Not Allowed#
- Cash donations
- Foreign political parties
- Electoral trusts
How to Claim#
- Show in ITR
- Keep donation receipt
- Quote party PAN
Political Parties#
- Registered with Election Commission
- Must have PAN
- Cannot be terrorist organization
Conclusion#
Political party donations get tax benefit.