Taxable amount

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2014 SIR,
IF SOME ONE HAVE YEARLY INCOME RS. 500000.00
HE HAS DEPOSITED RS. 100000.00( IN U/S 80C TO 80 CCD). RS. 20000.00 IN UNDER 80D.
RS. 50000 FOR HIGHER STUDY FOR HIS SON(80 EE)
FURTHER HE HAS DEPOSITED RS 130000 IN U/S 80 G ( PRIM MINISTER RELIEF FUND)

WHAT IS THE TAXABLE AMOUNT.

MY FURTHER QUERY IS WHAT IS THE LIMIT OF EXAMTION OF 80G ( IF SOME ONE DEPOSITED RS. 500000.00 THE NO AMONUT TO PAY AS TAX AS PER ABOVE)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 July 2014 then deduct all the amount from 5 lakhs then only 1 lakkhs is chargeable and then slab is applicable i.e upto 2 lakhs no tax.

u need to check whether full donation is allowed or 50% is allowed.

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2014 sir,
if Income is Rs. 600000.00 & deposited rs. 400000.00 in 80G(in 100% ) what is taxable amount & what is the limite of 80 G

Upgrade to CAclubindia Pro. Subscribe Now!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 July 2014 the limit is the amount u donated u/s 80G and 100 % is allowed.

2 lakhs shall be chargeable but applying slab there will be no taxable income at last.