What is the rule of donation rebate
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2013
Sir,
what is the limit of rebate in IT of donation & how we have to calculate it.
what is the limit of rebate in IT of donation & how we have to calculate it.
29 July 2013
I dis agree with the expert. The donation is exempted u/s 80G and not u/s 80GG. The donation should not exceed 10% of the taxable income and shall be allowed @50% of the donation given to charitable trust. If it is given to chief minister or Pri-minister it is 100% allowable. Like wise if donation is given to any NGO for specific purpose it is also allowed as deduction depending on the nature of payment u/s 35AC
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
