Donated To PM-CARES Fund, Here’s The Good News For Employees

New Delhi: Friday, The Income Tax Department said that the employees would have to reflect in the form 16 TDS certificate if they have made donations To PM-Cares Fund. Such employees will get tax relief of 100 percent u/s 80G of the I-T Act.

The Central Board of Direct Taxes said, “ the employees are eligible for deduction on the bases of the Form 16/certificate.” Most of them are donating through employers where they are giving only a portion of it, said Shailesh Kumar, The Nangia Andersen Consulting Director. Since it is a consolidated payment, therefore, no separate certificate will be issued.

Usually, taxpayers have to give all the details to claim for the tax refund. But in case of donation to PM-CARES, the process will be automatic.