In case you are not engaged in any business or profession and have made donation for scientific research or rural development, then you are entitled to deduction under section 80GGA for any such amount contributed towards the same and can save taxes in the donations made so. Section 80GGA covers the following contributions:
- Any sum paid to a prescribed scientific research association, university, college or other institution which undertakes scientific research;
- any sum paid to an approved association, college, or other institution to be used for research in social science or statistical research;
- any sum paid to an approved association or institution which has its object of undertaking of programmes for rural development;
- any sum paid to an approved association or institution which has its object of training of persons for implementing programmes for rural development;
- any sum paid to a public sector company or a local authority or to an association or institution approved by the National Committee, for carrying out any eligible project or scheme u/s 35(2)(a);
- any sum paid to a rural development fund set up and notified by the Central Government; and
- any sum paid to the National Urban Poverty Eradication Fund set up and notified by the Central Government.
However, if deduction is claimed u/s 80GGA in respect of any payment of the nature specified above for any assessment year then deduction shall not be allowed under any other provision of the Act in any other year. The deduction shall not be denied even after making the contribution, the approval of such association, university, college, and other institution has been withdrawn. Timely and efficient tax planning go long way in lowering your total taxes by employing and taking advantages of in-built provisions of tax exemptions, deductions, concessions, rebates, relief’s, allowances and other benefits granted by the tax laws so that the incidence of tax is reduced. We at Taxmantra.com have the expertise to guide you in lowering your tax outgo and thus enhancing your total take away. We at Taxmantra.com provide full year support solving all your tax issues, in addition to filing of your return of income with excellent tax planning. Please join us now in pursuit of simplifying individual taxation! Alok Patnia Founder and Director at Taxmantra.com
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