New Delhi: In a recent development, the Income Tax department has clarified that donations made for the repair, rebuild, or renovation of the Ram Mandir in Ayodhya, under the Shri Ram Janmabhoomi Teerth Kshetra Trust, are eligible for deduction under Section 80G (2) (b) of the Income-tax Act, 1961.
The government has notified that 50 percent of the donation for the purpose of temple repair or renovation qualifies for this deduction. However, it’s important to note that cash donations exceeding Rs 2,000 are not eligible for deduction. (Also Read: From Tata To Birla: Check List Of Prominent Industrialists Invited For Ram Temple Consecration)
The Central Board of Direct Taxes (CBDT) has explicitly stated that donations to the Shri Ram Janmabhoomi Teerth Kshetra are eligible for this tax benefit. (Also Read: LIC Unveils Jeevan Dhara II: Check Benefits, Features, And More)
Section 80G And Eligibility Criteria
Section 80G of the Income Tax Act, of 1961, deals with deductions for donations to certain funds, charitable institutions, etc. The recent notification by the Central Government specifies “SHRI RAM JANMABHOOMI TEERTH KSHETRA” (PAN: AAZTS6197B) as a place of historic importance and a renowned place of public worship, making it eligible for deductions under Section 80G(2)(b) from the financial year 2020-2021.
How To Make Donations
Donations to the Shri Ram Janmabhoomi Teerth Kshetra can be made through cheque, UPI, and Internet Banking. Individuals interested in contributing can visit https://srjbtkshetra.org/ for more information on making donations.
It’s important for donors to be aware of these guidelines to ensure that their contributions are considered for income tax deductions.
Upcoming Pran Pratishtha Ceremony
As Ayodhya prepares for the Ram Mandir Pran Pratishtha ceremony scheduled for January 22, 2024, the town is adorned with festivity.
The Shri Ram Janmabhoomi Teerth Kshetra Trust has been entrusted with the responsibility of the construction and management of the Shri Ram Janmbhoomi Mandir, following the historic Supreme Court decision in the Ram Janmabhoomi-Babri Masjid case.