Taxpayers can save on income tax by contributing to the Ram Temple. As per Shri Ram Janmabhoomi Teerth Kshetra Trust website, “The Central Government has notified “SHRI RAM JANMABHOOMI TEERTH KSHETRA” (PAN: AAZTS6197B) to be a place of historic importance and a place of public worship of renown for the purpose of the said section from the year FY 2020-2021. 50% of Voluntary Contribution, for the purpose of renovation/repair of Mandir to Shri Ram Janmabhoomi Teerth Kshetra is eligible for deduction under sec 80G (2) (b), subject to other conditions mentioned under section 80G of the Income-tax Act, 1961. Cash donations over ₹2000 are not allowed as a tax deduction.
Section 80G allows donations made to specified relief funds and charitable institutions as a deduction from gross total income before arriving at taxable income.
- The official website of Shri Ram Janmabhoomi Teerth Kshetra offers various options and modes for contributing the amount.
- To donate, one can go to the official website of the Shri Ram Janmbhoomi Teerth Kshetra, and click on the donation section.
- A person can log in using Mobile OTP
View Full Image
- Now fill in the information such as name, purpose of donation, PAN Number, donation amount, address, mobile number, email ID, etc.
- The donation receipt is generated instantly and can be downloaded by the donor.
- Various donation methods are available, including payment gateways, UPI, NEFT, IMPS, demand draft, and cheque payments.
Deductions under Section 80G for the amounts donated to Shri Ram Trust
-Donations should be specifically given for the renovation/repair of the temple
-Donors should collect the donation receipt
-Donations exceeding Rs. 2,000 should not be in cash
-Deduction can be claimed up to 50% of the amount donated subject to the qualifying limit
According to Archit Gupta, founder, Clear, the eligible deduction under 80G will be prefilled in your Income Tax Return (ITR). If the information is not there in the ITR form, you should contact the organization to check whether it has filed Form 10BD within the due date.
“Some organizations allow 50% or total deduction, as applicable, without a qualifying limit, while others come with a qualifying limit of 10% of the adjusted gross total income. This means all donations made to institutes falling in the latter category should not exceed 10% of the adjusted gross total income,” said Gupta.
The Central Board of Direct Taxes (CBDT) has said donations made to the Shri Ram Janmabhoomi Teerth Kshetra are eligible for deduction under Section 80G of the Income Tax Act, 1961.
On January 22, a new chapter will be written in Ayodhya with Ram Temple Pran Pratistha ceremony which will be attended by Prime Minister Narendra Modi and over 7,000 guests.
Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 22 Jan 2024, 10:14 AM IST