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.
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