Tag: Income Tax Benefit
Income Tax Benefits for the Handicapped
Income Tax Act, 1961 provides some benefits for the handicapped under Section 80U, Section 10(14) and Section 80DD. The first two benefits directly benefit the handicapped taxpayers, while the third benefit is for taxpayers having disabled dependents. It also provides indirect tax benefit under section 64 of the Income Tax […]
Suggestions from the Disabled for Budget 2019
SUGGESTIONS FROM THE DISABLED FOR BUDGET 2019 The Finance Ministry has asked for budget suggestions from all people for the forthcoming Budget 2019 to be tabled by Smt. Nirmala Sitaraman in the Lok-Sabha on July 5, 2019. We appreciate the Government’s initiative for collecting ideas and suggestions from the people […]
80G Exemption from Income Tax
Blind Persons’ Association is registered under section 80G(5)(VI) of the Income Tax act, 1961. Under this section 50% of your donation to our fund shall qualify for exemption from income tax. Moreover, the qualifying amount must not exceed 10% of your gross income. While computing the deductible amount under section […]
Income Tax Benefit for Donors of Blind Persons’ Association
The Government of India has made several provisions in the Income Tax Act for offering tax relief to donors whose contributions help in promoting social welfare activities. Our organisation has obtained the benefits of section 80G and 35AC of the Income Tax Act, 1961. Benefit of Section 80G Blind Persons’ […]
