Section 80GGC allows taxpayers to claim a deduction for contributions made to political parties registered under the Representation of People Act, 1951, or electoral trusts approved by the Income Tax Department. The deduction reduces the taxable income in the year the contribution is made. Section 80GGC allows taxpayers to claim deductions for contributions made to eligible political parties and electoral trusts. This deduction aims to encourage political funding. Section 80GGC offers tax deductions for political donations—know the limits, eligibility, and exceptions to claim benefits under Income Tax Act. Section 80GGC of the Income Tax Act, 1961, allows taxpayers to claim a deduction for donations made to political parties or electoral trusts. Explore its benefits, deductions, limits and criteria.
