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Deduction can be claimed by an Indian Company or by any person for any sum contributed by it to a political party or an electoral trust in different sections as mentioned below. Sec 80GGB – Contribution given by Companies to Political Parties In computing the total income of an assessee, being an Indian Company, there shall be a deduction of any sum contributed by it, in the previous year to any political party or an electoral trust. Sec 80GGC – Contributions given by any person to Political Parties In computing the total income of an assessee, being any person, except local authority and every artificial juridical person wholly or partly funded by the Government, deduction can be claimed by him of the amount of contribution made by him, in the Previous Year, to a political party or an electoral trust.
Claim Deduction for Cotribution to Political Parties – 80GGB/80GGC
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Deduction can be claimed by an Indian Company or by any person for any sum contributed by it to a political party or an electoral trust in different sections as mentioned below. Sec 80GGB – Contribution given by Companies to Political Parties In computing the total income of an assessee, being an Indian Company, there shall be a deduction of any sum contributed by it, in the previous year to any political party or an electoral trust. Sec 80GGC – Contributions given by any person to Political Parties In computing the total income of an assessee, being any person, except local authority and every artificial juridical person wholly or partly funded by the Government, deduction can be claimed by him of the amount of contribution made by him, in the Previous Year, to a political party or an electoral trust.