11 June 2016
if a persons income cross 10 lakh. or his income under 30% tax slab rate. if he give donation to some trust who registered under income tax act with 100% deduction. if he give 10 thousand donation to one of trust then how much tax he save. I mean how much benifit he got. pls answer sir
12 June 2016
Dear Moin Ali,
Donation is a deduction from the gross total income. hence for a person in the 30% tax bracket, it'll save Rs 3000/- if 100% deduction allowed of Rs. 10000/- from the gti.
CAclubindia
