Post
Topic
Board India
Merits 1 from 1 user
Re: Can you Save Tax through Crypto Donation under Section 80G
by
webtricks
on 11/05/2023, 15:12:22 UTC
⭐ Merited by Heisenberg_Hunter (1)
I have explained two types of crypto incomes in this post: https://bitcointalk.org/index.php?topic=5448950.msg62095602#msg62095602. If your crypto income comes under the ambit of Section 115BBH then no deductions are allowed except the cost of acquistion, hence, deductions under Chapter VI-A (80G is a part of this) are also not allowed.

But if your crypto income is not taxable under section 115BBH then it will become a part of your regular total income and you can claim deduction for donations u/s 80G. However, there is another catch: the new regime doesn't allow any deduction u/s 80G so if you are paying taxes under new tax law then donations isn't helpful for you. Do consider this factor before doing the tax planning.