Deduction u/s 80g

Tax queries 488 views 2 replies

My friend has donated Rs 3,00,000/- to a college/university (80G is covered) where his daughter is doing Engineering. His taxable income for the year is around Rs 10,00,000/- Please advise how much deduction is available? Is it 50% of the amount paid ie., Rs 1,50,000/-? Please advise.

Replies (2)

If this donation is for securing seat than no deducation can be claimed as per

Manoj kumar vs. ITO SOt 412(Hyd)

N if not for that 100% ded will be available

Deduction u\s 80G is avaliable on the following basis.....

  1. Donation made to some specific fund are eligible, 100% deduction without any qualifying limit...
  2. Donation made to some specific fund are eligible,50% deduction without any qualifying limit.....
  3. Donation made to some specific fund are eligible,100% deduction,sublect to qualifying limit...
  4. Donation made to some specific fund are eligible,50% deduction,subject to qualifying limit...

 QUALIFYING LIMIT IS 10 % GROSS TOTAL INCOME...

GROSS TOTAL INCOME IS CALCULATED AS UNDER....

ALL DEDUCTION PERMISSABLE U/S 80C TO 80U,EXCEPTING DEDUCTION U/S 80 G...

FOR EXAMPLE IF UR GTA...AFTER DEDUCTION ABOVE IS RS.500000...

THEN 10% IS    RS  50000...

SO MAXIMUM DED RS 50000 IS ALLOWED....

IF U COVERED 100% SUBJECT TO QUALIFYING AMOUNT....

BUT IF U COVERED 50% OF QUALIFYING AMOUNT..

THEN 25000 IS ALLOWED....

IF ANY DONATION NOT SUBJECT TO QUALIFYING AMOUNT,THEN 100%.OR 50% FLAT ALLOWED.

IN MY OPINION U COVERED 50% OF QUALYFYING AMOUNT....

PLZ CHECK ABT ALLOW OF DONATION...AND MAKE CALCULATION ACCORDING TO ABOVE...


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