Section 80GGA of Income Tax Act

This section permits deductions for a donation that are made for rural development and scientific research. The 80GGA deduction is allowed for all the assessees excluding those who have a loss of income from profession or business

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Disclaimer: ^Section 80C allows annual deductions of up to ₹1.5 lacs from the taxable income. Section 10(10D) provides tax-free maturity benefits for investments of up to ₹2.5 Lacs/ year, on policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

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All the donations that are made through draft or cheque or in cash, but if the cash donations that exceed Rs.10, 0000 are not considered as deductions. 100% of the donation amount or the contribution is considered for deductions.

Donations that are Eligible U/S 80GGA

The donations that are eligible u/s 80GGA are as follows:

Any sum that is paid to some research institution that undertakes the scientific research, or specific sum paid to university or college, or some institution for use in scientific research which is approved by some prescribed authority u/s 35 (ii) (i).
Sum paid to some approved institute on or association that undertakes people’s training to implement some program of the rural development.
Sum paid to some research association that undertakes research in statistical research or social science, or sum paid to any university or college or some other institution for this purpose. These should be approved by the prescribed authority u/s 35 (ii) (i).
Sum paid to some approved institution or association that undertakes the training of people for implementing the rural development program.
Sum paid for the fund of Rural Development.
Sum paid to any company of the public sector, approved institution or association, or local authority that carries out the schemes or projects that are approved u/s 35AC.
Sum paid for Fund of the National Poverty Eradication.
Sum paid for Fund of Afforestation.

If the deduction is allowed u/s 80GGA then these expenses should not be deducted in any other income tax act provision.

Adjusted Complete Income

Adjusted complete income is the gross complete income (sum of the complete income under all the heads) that is reduced by any of the following aggregators:

Capital gains of long term
Income exempted
The amount that is deductible under Section 80CCC to 80U (but excluding section 80G)
Income that is referred to in Section 115A, 115AC, 115AB, 115D, and 115AD relating to all the foreign countries and non-residents.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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