TDN World Desk: Donors contributing to Ram Temple Trust for the construction of Ram Temple in Ayodhya will be facilitated tax exemption by the government of India under Section 80G of the Income-tax Act from financial year 2020-21.
As repoted by the Indian Express, the Central Board of Direct Taxes on Friday notified the Shri Ram Janambhoomi Tirath Kshetra as “a place of historic importance and a place of public worship of renown” under clause (b) of sub-section (2) of Section 80G of the Income-Tax Act and granted deduction to the extent of 50% to those who make donations to the Trust.
This would allow to avail the donors of the Ram Temple Trust for deduction of taxes to the extent of 50% from this financial year, 2020-21.
The Shri Ram Janambhoomi Teerth Kshetra Trust has been created for the construction of the Ram temple in Ayodhya, at the very controversila site of Babri Masjid after the apex court’s verdict on November 9. Following the SC ruling, PM Modi and his cabinet has set up a Ram Temple Trust on February 5. The Temple Trust is comprised of 15 members.