Under which section of IT Act, 1961 the Donations for PM-CARES fund granted with 100% exemption?
A. Section 80A
B. Section 80J
C. Section 80F
D. Section 80G
Answer:D
Under which section of IT Act, 1961 the Donations for PM-CARES fund granted with 100% exemption?
A. Section 80A B. Section 80J C. Section 80F D. Section 80G
Explanation: The donations made under newly-formed Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES FUND) to aid the persons affected by the COVID-19 outbreak, are made eligible for 100% deduction under section 80G of the Income Tax (IT) Act, 1961.