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He/she also has the option to opt for the new, concessional tax regime without claiming any deductions and tax exemptions. Any donation to political parties made by an Individual can be claimed as a deduction under the section 80GGC of the I-T Act.Īlso, from FY 2020-21, an individual can continue with the old/existing tax regime by availing of existing deductions and tax exemptions. However, one must remember that any donation made to foreign trusts and political parties do not qualify for deduction under this section. This deduction can be availed by any assessee who makes a donation to the notified institutions and the relief funds set up by the government.
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