SECTION 80G( DONATION)
This query is : Resolved
13 September 2010
In the calculation of deduction allowed under section 80g [donation],
Suppose the adjusted gross total income is Rs. 197000, DONATION GIVEN TO
a.Government for family planning Rs. 27000
b.Approved charitable institution Rs. 3000;
Then how to calculate the amount of deduction??
Here the amount of donation or 10% of adjusted gross total income Whichever is less to be considered. but here
Total amount of donation Rs. 30000 and
10% of adjusted gross total income Rs. 19700
Then how to allocate as the donation to govt for family planning exp 100% of adjusted gross total income should be allowed as deduction.
Suppose the adjusted gross total income is Rs. 197000, DONATION GIVEN TO
a.Government for family planning Rs. 27000
b.Approved charitable institution Rs. 3000;
Then how to calculate the amount of deduction??
Here the amount of donation or 10% of adjusted gross total income Whichever is less to be considered. but here
Total amount of donation Rs. 30000 and
10% of adjusted gross total income Rs. 19700
Then how to allocate as the donation to govt for family planning exp 100% of adjusted gross total income should be allowed as deduction.
13 September 2010
IN YOUR CASE TO TAL DONATION U/S 80G WILL BE 50% OF 30000/-
BECAUSE 10% OF ADJUSTED GTI IS 19700/-
WHICH IS GRETER THAN 15000/-
SO RS. 15000/- WILL BE THE NET DEDUCTION U/S 80G.
BECAUSE 10% OF ADJUSTED GTI IS 19700/-
WHICH IS GRETER THAN 15000/-
SO RS. 15000/- WILL BE THE NET DEDUCTION U/S 80G.
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13 September 2010
But sir For donation to govt for family planning expenditure 100% of adjusted gross total income
&
approved charitable trust 50% of adjusted gross total income
should be allowed as deduction. How to allocate for the two With Rs 15000 sir?
But sir For donation to govt for family planning expenditure 100% of adjusted gross total income
&
approved charitable trust 50% of adjusted gross total income
should be allowed as deduction. How to allocate for the two With Rs 15000 sir?
13 September 2010
you can claim deprecaiton upto maximum limit 10% of Adjusted GTI.
Which is 19700.
I.e you will get total deductin u/s 80 G is 19700/-
Which is 19700.
I.e you will get total deductin u/s 80 G is 19700/-
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13 September 2010
How to allocate that amount to those two donations sir?
13 September 2010
10% OF ADJUSTED GROSS TOTAL INCOME = 19700/-
100% DONATION ALLOWED FOR FAMILY PLANNING = 27000/-
50% DONATIN ALLOWED FOR APPROVED INSTITUAION = 1500/-
TOTAL DONATION ELIGIBLE FOR DONATION = 28500/-
BUT IT ALLOWED SUBJECT TO LIMIT RS. 19700/-
YOU CAN ALLOCATE IT IN BOTH OR AGAINST ONE
I.E IF YOU ALLOCATED AGAISNT BOTH
If aggregate of the sums donated exceed 10% of the adjusted gross total income, the amount in excess of 10% ceases to be entitled for tax benefit.
100% DONATION ALLOWED FOR FAMILY PLANNING = 27000/-
50% DONATIN ALLOWED FOR APPROVED INSTITUAION = 1500/-
TOTAL DONATION ELIGIBLE FOR DONATION = 28500/-
BUT IT ALLOWED SUBJECT TO LIMIT RS. 19700/-
YOU CAN ALLOCATE IT IN BOTH OR AGAINST ONE
I.E IF YOU ALLOCATED AGAISNT BOTH
If aggregate of the sums donated exceed 10% of the adjusted gross total income, the amount in excess of 10% ceases to be entitled for tax benefit.
Message likes :
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13 September 2010
Thanks a lot sir. Doubt cleared
13 September 2010
Thanks to CA. SANAT PYNE sir and CA. BIJENDER KR. BANSAL sir...
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