Hello Sir/Madam,
I am working in the IT field with a salary of 45lac per annum.
Around 10lacs is tax even after I have declared all 80c and home loan deductions.
I would like to understand if the donation made to build a room(~10lacs) for pilgrims stay in Srisailam temple can help to make my tax exemption and if yes, how much will be the limit and tax exemption?
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Donation limit and exemption
Replies (4)
Sec 80G
purchase house property avail loan get deduction.
purchase house property avail loan get deduction.
@ Suresh..
Your total income say... 45 lakhs...
Your adjusted total income (for calculation of 80G) would be around... 40 lakhs...
If trust comes under 50% donation category with 10% of adjusted total income....
Your maximum 80G claim cannot exceed Rs. 2 lakhs..
The amount need to be paid by cheque to trust with some formalities specified in IT act..
Trust is not mentioned here. Comment accordingly.
It is beyond your understanding...
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