80G Deduction for PM CARES Fund - 50%/100%?

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 31 March 2020

It's under sec 80G. then it's available to 100%. If not satisfied then Wait to further clarification by dept.

As per above link..

How is the author define the pmcare is under 80G(5)...?!

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CA KARAN SINGH (Auditor at Big 4) (622 Points)
Replied 31 March 2020

Then how could you ????

Because author's point of view is based on the point that PM CARE fund has been setup as public charitable trust and As per sec. 80G Donation to Public charitable Trust qualifies for 50% deduction.

But as of now let's wait for further clarification.

Anuj Kumar Sharma (4 Points)
Replied 31 March 2020

Today Ministry of Finance has issued Taxation ordinance , 2020 .. In which it is cleared that 100% deduction shall be eligible to PMCARES fund.

Spurto Consultancy Services (Consultant) (1891 Points)
Replied 31 March 2020

PM CARES FUND ELIGIBLE FOR 100% DEDUCTION U/S 80G. DONATIONS CAN BE MADE UPTO 30.06.2020 FOR FY 2019-20

https://pib.gov.in/PressReleseDetailm.aspx?PRID=1609734

CA KARAN SINGH (Auditor at Big 4) (622 Points)
Replied 31 March 2020

Thank you very much @ Anuj Kumar Sharma

Ministry of Finance issued Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, which allow 100% deduction. for contribution to PM CARE fund and also limit of 10% of Gross income is not applicable which is applicable on Donation to other public charitable Trust u/s 80G.

Furthermore donation to PM CARE fund up to 30.06.2020 can be claimed as deduction in the F.Y. 19-20

Conclusion : Deduction of 100% will be available.

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(Guest)

Donation made to the PM CARES Fund shall be eligible for 100% deduction under section 80G of the IT Act. Further, the limit on deduction of 10% of gross income shall also not be applicable for donation made to PM CARES Fund. The FM passed an ordinance on 31st March 2020 to give effect to the relief measures regarding IT and GST. The Ordinance mentions that 100% deduction is available under section 80G for donations made to PM Cares Fund. Here is the official notification. https://www.caclubindia.com/news/fm-issues-ordinance-to-give-effect-to-gst-and-income-tax-relief-measures-18162.asp

CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 31 March 2020

PM cares 50 % deduction

PM Relief Fund 100% deduction u/s 80G

Important : Donate a small contribution, whatever the amount, to funds to overcome the worst situation ! JAI HIND !

CA KARAN SINGH (Auditor at Big 4) (622 Points)
Replied 31 March 2020

@ Naveen Chand

It is absolutely correct what you said. We all have to contribute overcome this situation.

But for the sake of providing correct information to our querist. The Donation to PM CARE fund is now eligible for 100% deduction as per latest press release by Ministry of Finance.

Follow the link: https://pib.gov.in/AllReleasem.aspx