80G Certificate or Certificate For claiming Deductions under Income Tax Act for Donations Made
Any Assessee can claim following types of Deduction amount U/s. 80G by donating to any trust/society who has Certificate of Registration U/s 80G. Donations paid to specified institutions qualify for tax deduction under section 80G but is subject to certain ceiling limits.
Based on limits, we can broadly divide all eligible donations under section 80G into four categories:
a) 100% deduction without any qualifying limit (e.g., Prime Minister’s National Relief Fund).
b) 50% deduction without any qualifying limit (e.g., Indira Gandhi Memorial Trust).
c) 100% deduction subject to qualifying limit (e.g., an approved institution for promoting family planning).
d) 50% deduction subject to qualifying limit (e.g., an approved institution for charitable purpose other than promoting family planning).
Institutions covered under category (c) and (d) above needs to get themselves registered with Income Tax Department under section 12A.
Kindly get in touch with the experts at NewCompanyIndia.Com who would guide you through steps for getting your Institution registered for 80G certification.