deduction in respect of donations
This query is : Resolved
Murulidhara S
(Querist)
15 February 2008
Dear Sirs
I am confused with section 80(G) regarding deduction in respect of donations. Can you explain in simple words.
Regards
I am confused with section 80(G) regarding deduction in respect of donations. Can you explain in simple words.
Regards
CA. Kirti S. Ganatra
(Expert)
15 February 2008
There are two types of donation. One is 100% deductible second is 50% deductible Means in first if you donate 100 Rs. you will get deduction of Rs. 100/- but if you donate to second category organization you will get 50/- as deduction. But there is thresh hold that deduction amount can not be more than 10% of adjusted income. Formula for adjusted income is given in sec 80G
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