Tax saving options beyond 80c-section 80g, 80gg, 80ggb, 80ggc.

Section 80G:
Section 80G of the Income Tax Act, 1961, allows you to claim deductions for your charitable contributions and donations. The aim behind this tax deduction was to encourage people to donate more towards social causes and to help in the upliftment of the backward sections of the society.

Section 80GG:
Under Section 80GG, all individual taxpayers, who do not receive house rent allowance, can claim a tax deduction on the rent paid by them. This deduction, however, is subject to a maximum equivalent of 25% of your total income or Rs 5,000 a month, whichever is lower.

Section 80GGB:
Section 80GGB allows only Indian companies to avail tax deductions for their contributions/donations to any political party or any electoral trust that qualifies for the deduction.

Section 80GGC:
While Section 80GGB allows only Indian companies to claim deductions, Section 80GGC allows any individual to claim deductions, for his/her donations made to any political party or electoral trust that qualifies for the deduction. However, the benefits of this section do not extend to local authorities and artificial juridical persons.

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