Donation has been given in the name of Ram Mandir, now you will be able to save huge amount in tax, know the complete process

Thousands and lakhs of people have donated money and donations with their devotion for the construction of the grand Ram temple built in Ayodhya. If you have also donated for Ram temple, then good news has come for you from the Income Tax Department. Those who donate for the construction of Ram temple will get income tax exemption. Donors can avail income tax exemption.

Charitable institutions get the benefit of tax deduction, which is provided in Section 80G of the Income Tax Act 1961. Donors can avail tax benefits under this Act. This benefit is available to all tax payers i.e. individuals, companies and leaders can get its benefit. According to the information, the Central Government had officially recognized Section 80G (2)(b) from the financial year 2020-21. The government has also recognized Shri Ram Janmabhoomi Teerth Kshetra Trust as a famous place of public worship and a historically important site. Due to this decision of the government, the amount donated for Ram temple can be exempted from tax.

You will get tax exemption on donating like this

According to the report of Moneycontrol, Anivas Polepalli, Senior Director of Clear Tax, says that under Section 80G (2)(b) of the Income Tax Act, the amount donated for the Ram Temple or the amount donated for the renovation of the Ram Temple. You can get tax exemption up to 50 percent. Donations made specifically for the renovation or repair of a temple are eligible for this exemption. If donation is made for other purposes, there will be no tax exemption on it.

In such a situation, if a donor has donated one lakh rupees to Shri Ram Janmabhoomi Teerth Kshetra Trust, then he can get a rebate of Rs 50 thousand. This amount will be deducted from the total taxable income. Let us tell you that there is also a condition under which deduction of more than 10 percent of the adjusted gross total income limit will not be allowed.

Conditions have also been imposed

Those donating for the Ram temple in Ayodhya and availing exemptions in respect of donations will have to follow certain conditions. Let us tell you that exemption will be given only on donations made on online platform certified by Shri Ram Janmabhoomi Teerth Kshetra Trust or through cheque. To avail tax deduction, it is necessary to download and save the donation receipt. Let us tell you that as per the rules, tax exemption will be given only to those taxpayers who file income tax returns as per the old system.