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Under which section of IT Act, 1961 the Donations for PM-CARES fund granted with 100% exemption?
  • a)
    Section 80A
  • b)
    Section 80J
  • c)
    Section 80F
  • d)
    Section 80C
  • e)
    Section 80G
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
Under which section of IT Act, 1961 the Donations for PM-CARES fund gr...
The donations made under newly-formed Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES FUND) to aid the persons affected by the COVID-19 outbreak, are made eligible for 100% deduction under section 80G of the Income Tax (IT) Act, 1961.
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Under which section of IT Act, 1961 the Donations for PM-CARES fund gr...
Any contribution made to the PM CARES Fund before March 31 would qualify for 80G exemption under the Income Tax Act, which allows donations made to specified relief funds and charitable institutions as a deduction from gross total income before arriving at taxable income.

Experts said that while contribution towards PM CARES Fund was eligible for 50% deduction since it was notified under section 80G(5), contributions made to PM National Relief Fund and to Chief Minister’s Relief Fund or Lieutenant Governor’s in respect of any State or Union Territory, were eligible for 100% deduction under Section 80G(1) read with clause (iiia) of section 80G(2).
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Community Answer
Under which section of IT Act, 1961 the Donations for PM-CARES fund gr...
80 G
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Under which section of IT Act, 1961 the Donations for PM-CARES fund granted with 100% exemption?a)Section 80Ab)Section 80Jc)Section 80Fd)Section 80Ce)Section 80GCorrect answer is option 'E'. Can you explain this answer?
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