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Updated January 27th, 2024 at 14:28 IST

Tax breaks and temple blessings: Here's how your donations to Ram Mandir can save you money

Donations to the Ram Mandir via the Shri Ram Janmabhoomi Teerth Kshetra Trust qualify for tax deduction under Section 80G.

Reported by: Business Desk
Explore tax benefits with donations to Ram Mandir
Explore tax benefits with donations to Ram Mandir | Image:Republic
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Contribution to consecration: Are you eager to contribute to the Ram Janmabhoomi temple in Ayodhya? Well, here's your chance to not only be a part of this historic event but also to save on taxes. Taxpayers can now benefit from tax deductions under Section 80G of the Income Tax Act, 1961, by contributing to the construction of the temple through the Shri Ram Janmabhoomi Teerth Kshetra Trust.

Established by the Government of India in February 2020, the Shri Ram Janmabhoomi Teerth Kshetra Trust oversees the development and maintenance of the temple, consisting of 15 trustees.

Image credit:  ANI on X

Tax relief for renovation

The official announcement from the Central Government declares Shri Ram Janmabhoomi Teerth Kshetra (PAN: AAZTS6197B) as a site of historical significance and public worship. According to CBDT Notification, 50 per cent of voluntary contributions made for the renovation or repair of the temple to Shri Ram Janmabhoomi Teerth Kshetra is eligible for deduction under Section 80G (2) (b) of the Income Tax Act, 1961, subject to meeting other conditions specified in section 80G.

If the aggregate contribution to the Shri Ram Trust surpasses 10 per cent of your adjusted gross total income (GTI), any surplus beyond the 10 per cent threshold will not qualify for a deduction. Notably, only individuals who select the old tax regime for their income tax return (ITR) filing can avail themselves of this deduction. Those opting for the new tax regime are not eligible for this benefit, according to CA Tarun Kumar Madaan of Taxmann. 

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Consequently, if you've chosen the new tax regime, you cannot assert any Section 80G deduction when filing your ITR. Deductions can be claimed for donations made through cash or cheque, but cash donations exceeding Rs 2,000 are ineligible for deduction. To contribute, individuals can visit the official website at srjbtkshetra.org.

The Shri Ram Janmabhoomi Teerth Kshetra Trust provides multiple online donation methods, such as payment gateways, UPI/QR codes, NEFT, IMPS, demand drafts, and cheques. Importantly, there are no additional charges or fees for contributing to the Ayodhya Ram Mandir Trust. For those using the payment gateway, a donation receipt will be instantly issued upon successful completion of the transaction. In the case of other methods, such as UPI, QR code, NEFT, IMPS, demand draft, or cheque, the donation receipt will be issued after verification by the trust. Individuals are advised to check the website approximately 15 days after their donation for the downloadable receipt.

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Published January 22nd, 2024 at 11:54 IST

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