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I-T clarification on sports fund
August, 20th 2007
Contributions made to the Andhra Pradesh State Sports Development Fund will not be eligible for income-tax deduction, the Centre has clarified.

According to an official release, the benefit of 100 per cent deduction has not been extended to contributions made to the AP sports fund, because it does not qualify to be a fund of national importance.

Donations made to the national sports fund are eligible for 100 per cent deduction under the provisions of Section 80G (2) of the Income Tax Act, 1961.

The Government of Andhra Pradesh had requested for tax exemption to its proposed State Sports Development Fund under the section 80G of the IT Act.

 
 
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