16 February 2016
where the firm can claim donation ? as expense or as u/s 80g ? what is the limit of donation if we claim it as expence & also under sec 80g .what is beneficial for the firm???????
16 February 2016
There is an upper limit on the deduction that can be availed in respect of the donated amount. Generally, 50% of the donated amount is allowed as deduction from the income of the individual. This is subject to a maximum of 10% of the gross total income of the individual as computed according to the prescribed tax law.
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