deduction 80G
Sachin Grover (Audit Assistent) (30 Points)
25 July 2017Sachin Grover (Audit Assistent) (30 Points)
25 July 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 25 July 2017
Mode of Payment – This deduction can only be claimed when the contribution has been made via cheque or draft or in cash. But deduction is not allowed for donations made in cash exceeding Rs 10,000. In-kind contributions such as food material, clothes, medicines etc do not qualify for deduction under section 80G.
From Financial Year 2017-18 onwards – Any donations made in cash exceeding Rs 2000 will not be allowed as deduction. Thus the donations above Rs 2000 should be made in any mode other than cash to qualify as deduction u/s 80G.
Poltu Ghosh
(Job)
(1865 Points)
Replied 25 July 2017
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)