Government Announces ‘Tax Exemption’ for Giving Donations to Ayodhya Ram Temple
New Delhi: If you are thinking of donating for the construction of Ram temple in Ayodhya, then there is good news for you. Actually, the Finance Ministry has issued a notification.
According to this notification, those who donate to the Ram temple in Ayodhya will be exempted from tax. This exemption will be given only after donating to Shri Ram Janmabhoomi Teerth Kshetra Trust. This exemption will be given by the Finance Ministry under Section 80G of the Income Tax Act, 1961.
This year “Sri Ram Janmabhoomi Teerth Kshetra Trust” was created and under this, all donations are being taken to build the temple. In order to claim income tax exemption, it is necessary that you have the receipt of donation received from the trust. It should contain the name of the trust, address, PAN, name of the donor and details of the amount of donation.
What is said in the notification?
The notification states that not all religious trusts are exempted under Section 80G. Religious trusts have to first apply for registration for income tax exemption under sections 11 and 12. After this, exemption is given under Section 80G. The finance ministry has notified the pilgrimage area as a place of historical importance and a famous place of public worship.
What is Section 80G?
Under Section 80G of Income Tax, any person, HUF or company can get tax exemption on donations made to any fund or charitable institution. The condition is that the institution to which you give this donation must be registered with the government. Any person or taxpayer can take advantage of this deduction, he has to take care of the conditions fixed in donating. This contribution can be made through check or cash.