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Donation from inside the cash is prohibited since the deduction

Donation from inside the cash is prohibited since the deduction Deduction around Area 80GGC If the older persons or awesome older persons contribute money so you’re able to a good political cluster otherwise an enthusiastic electoral trust, brand new share would be enjoy since the an excellent deduction significantly less than Area 80GGC. Deduction below Point 80RRB In the event that a resident senior or awesome senior possess good inserted patent and you may brings in royalty income into instance patents, the brand new royalty gotten are invited since the a great deduction away from nonexempt earnings. The maximum amount of royalty which may feel desired given that a beneficial deduction is restricted to INR 3 lakhs. Moreover, to help you allege new deduction, the following conditions would be came across by senior citizen or very senior citizen – He/she might be an enthusiastic Indian resident He or she must have registered the new patent to your or immediately following 1st according to the Patents Operate 1970 So you can claim the new deduction this new senior citizen or extremely senior citizen would have to fill in a certificate(Form-10CCE) to the income tax government additionally the certification will likely be closed of the the latest recommended regulators The newest senior citizen otherwise awesome senior must be the patentee Deduction around Point 80TTB If your citizen senior citizen otherwise very senior makes places inside the a lender otherwise postoffice, the interest won to your eg deposits, together with desire off bank account, repaired deposit techniques and you will postoffice put systems could well be acceptance since a deduction in the...