A Mumbai man's Rs 2 lakh donation to a political party for tax deduction backfired. The Income Tax Appellate Tribunal (ITAT) Mumbai disallo...

IRS tax more filers may want to contemplate itemizing because of other changes, namely, a more generous deduction on state and local taxes ...

Donating to charities offers tax benefits under Section 80G of the Income Tax Act. The Income Tax Department has clarified rules for these ...

A nationwide Income-Tax Department probe has revealed a massive scam involving over ₹5,500 crore in fake political donations. Thirty-six sh...

The income tax department scrutinizes donations of ₹5 lakh or more made to little-known political parties during FY 2020-21, suspecting mon...

Till FY 2020-21, an individual can claim the donation on the basis of the donation receipts at the time of filing income tax return (ITR). ...

The first leg of the transaction --- where money was donated by cheque or electronic transfers with the donor receiving a receipt from the ...

Based on the government’s expectations, nearly two-thirds of taxpayers are expected to opt for the new tax regime, which has now become the...

Donations made to help people tide over the covid-19 pandemic can help you save income tax as well. Here is a look at how Section 80G of th...

Apart from common know deductions such as section 80C, section 80D of the Income-tax Act, donating money to charitable institutions also pr...

At present, donations made for specific projects run by NGOs that have been certified under section 35AC entitle the donor to a 100% I-T de...

The government notifies separate lists of institutions/funds donations to which would be eligible for 100% or 50% deductions with or withou...

During budget speech, FM had announced that the political parties now cannot accept donations more than Rs 2000 from a single source, down ...

The move is being seen as a major boost for more transparency in political funding, plugging a vulnerability in law which could be exploite...

According to NGOs, with growing awareness about tax benefits on donations, collections have risen significantly this year as compared to th...

The United States has launched an innovative, new Public-Private Partnership website in an effort to push for better donor experience.

US-based Kashmiri separatist Ghulam Nabi Fai has pleaded guilty of secretly receiving millions of dollars from ISI for 20 years.