CSR donations eligible for tax deduction under Section 80G: ITAT
The Income Tax Appellate Tribunal (ITAT) Mumbai has ruled that Corporate Social Responsibility (CSR) expenditures can qualify for tax deductions under Section 80G of the Income Tax Act, 1961. This decision clarifies that CSR donations meeting Section 80G criteria are eligible, despite being mandatory under company law, marking a significant development in corporate taxation policy.