Donations made to Ram Mandir now eligible for Income Tax Deduction
In a recent development, the Income Tax Department stated that donations made to the Shri Ram Janmabhoomi Teerth Kshetra Trust for the restoration, rebuilding, or refurbishment of the Ram Mandir in Ayodhya are eligible for deduction under Section 80G (2) (b) of the Income tax Act of 1961.
The government has stated that 50 percent of donations for temple repair or renovation are eligible for this deduction. However, note that cash donations made over Rs. 2,000 are ineligible for deduction.
The Central Board of Direct Taxes (CBDT) has specifically indicated that donations to the Shri Ram Janmabhoomi Teerth Kshetra qualify for this tax benefit.
Eligibility Criteria under Section 80G
Section 80G of the Income Tax Act of 1961 deals with deductions for donations to particular funds, charitable institutions, and so on. The Central Government’s recent announcement designates “SHRI RAM JANMABHOOMI TEERTH KSHETRA” (PAN: AAZTS6197B) as a place of historic value and a renowned place of public worship, making it eligible for deductions under Section 80G(2)(b) beginning with the financial year 2020-2021.
Join Studycafe’s WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!”
