Regarding 80 G
This query is : Resolved
28 January 2010
Dear All,
I hv a small doubt. While calculating the deduction u/s 80 G we take into consideration the 10% of adjusted GTI.
Adjusted GTI= GTI- deductions u/c VI A
(assuming no shares income )
so if my GTI was like 350000 and u/c VI A i invested...
80C-100000
80D-30000
so will the adjusted GTI be 350000-100000-30000= 220000..
and deduction in 80G upto 10% of 220000= 22000....Is It True....
I hv a small doubt. While calculating the deduction u/s 80 G we take into consideration the 10% of adjusted GTI.
Adjusted GTI= GTI- deductions u/c VI A
(assuming no shares income )
so if my GTI was like 350000 and u/c VI A i invested...
80C-100000
80D-30000
so will the adjusted GTI be 350000-100000-30000= 220000..
and deduction in 80G upto 10% of 220000= 22000....Is It True....
28 January 2010
Yes it is true. dedcution u/s 80G is restricted to 10% of gross total income less deductions under chapter VI-A but before 80G.
So what u say is true
So what u say is true
29 January 2010
Yes in the given case such restriction would be upto 10% of adj GTI
29 January 2010
Yes, in the given case the amount qualified for deduction u/s 80G is 10% of Rs. 220000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- GSTR-9 HSN Summary and Credit Note without item
- I WANT CLEAR DETAIL AND HOW TO ENTRY IN TALLY
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
Trending Online Classes
CAclubindia
