Dear Members,
I want to know the basic difference in b/w DEDUCTION U/s 80G & 35AC .
1 Replies
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 22 May 2008
Payment qualifying 35AC is applicable only inrespect of assessment of business income, where as eligible payment u/s 80G is deducted from total taxable income. This is the basic difference, apart from differences in eligibility criteria.
Recent Topics
- TDS Receivable Entry in Books of accounts
- Gst on dance classes
- New Remuneration Clause Applicable from which Asse
- Be Alert - Bogus Tax Claims Exposed: IT Dept Warns
- Cash limit donations received
- Sales credit note and delivery challan
- ITC regarding query
- TReDS platform and accounting
- Can I show Salary to avoid TDS 194J
- Stamp Duty on Conversion of Partnership firm to Co
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
