80G EXEMPTION

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2011 Dear Friedns,

Total salary income Rs. 300000/-
80C 50000
80G Rs. 15000/- (save the childrend Fund 80 G Exempt)
How much amount is eligible for 80G and what is my taxable income

Thanks in advance

CA Navin Jain

CA Navin Jain (Expert)
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20 July 2011 Computation of Taxable Income

Salry -- 300000

less- 80c 50000
less 80G -12500

Total taxable salary - 237500

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2011 Thanks for your Feedback,
but why 12500/-

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CA Navin Jain

CA Navin Jain (Expert)
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20 July 2011 DEDICATION IS AVAILABLE ONLY FOR 10% OF ADJUSTABLE INCOME.

IN YOUR CASE ADJUSTABLE INCOME IS RS. 250000

AND UNDER SEC 80G DEDUCTION IS AVAILABLE UPTO 50% OF ADJUSTABLE INCOME