Donation
Donation For Samata Party
The Samata Party (SAP) is a political party in India, initially formed in 1994 by George Fernandes, former Defense Minister of India. The party is registered with Election Commission of India under Section 29A in The Representation of the People Act, 1951 effected from 1994.
Please make a donation for party and get 100% tax exemption from Income Tax under section 80GGB for Companies & under section 80GGC for Others as per Income Tax Act, 1961
Support Change, Empower Lives – Donate to Samata Party Today!
Rules for companies to avail tax benefits on donations to political parties
The following rules must be followed by India companies to avail tax benefits under Section 80GGB for contributions/ donations to political party:
- There is no maximum applicable limit on the contributions made to political parties, under Section 80 GGB of the Income Tax Act. But as per the Companies Act 2013, companies can contribute up to 7.5% of their annual net profit (three years average). It is necessary that the respective company discloses the amount contributed and the name of the political party in its “Profit and Loss account” for the said financial year.
- The name of the political party and the amount given as donation should be duly disclosed by the company in its profit and loss account book. However, only the amount paid needs to be recorded for a contribution made through electoral bonds.
- An advertisement from a company on any media such as print, broadcast or social which a party in politics owns, would be recognized as a donation as per section 80 GGB. This automatically makes it eligible for tax deduction.
- A company can extend its support to any number of political parties. However, all contributions made are added up to avail tax benefit.
- There are certain exceptions to the contributions made under Section 80 GGB: A Public Sector Enterprise. A company that has an age of three years or less.
Legal Clarification
Income of and/or contribution to a political party registered under Section 29A of Representation of People Act 1951 are exempt under Section 13A and 80GGB/ 80GGC respectively. For this purpose, no registration/certification is required under IT Act 1961. Therefore, registration certificate issued by Election Commission of India and PAN allotted by Income Tax Department are the only two documents which enable a registered political party to collect contributions. You can find our registration number and PAN number
NOTE:
The donation given to Samata Party is exempt under Income Tax Act 1961, u/s 80GGB/80GGC. In case of any discrepancies, funds will be refunded back to the respective account. Transfer of funds for donation is subject to Samata Party's approval.
