Can sombody tell me what is the maximum amount can be allowed it Income tax deduction under section 35AC (80G)
for any employee/individual for a financial year. I could not find it in any ready reckoner. Please help me out.
4 Replies
C.rajesh
(Articles)
(1392 Points)
Replied 02 April 2008
can u please clarify under which sec. you are asking the query
CA. Dashrath Maheshwari
(TaXpert)
(15103 Points)
Replied 02 April 2008
bhai mere, daan dene ki seema nahi hoti, jitna doge utne ki credit mil jayegi...
you asked about the maximum allowable deduction, You can get deduction upto your total income. I mean if you want to give your all of total income as donation then department has no problem in giving credit to you with regard to that.
(Guest)
| Originally posted by :Rangarao | ||
| " | Can sombody tell me what is the maximum amount can be allowed it Income tax deduction under section 35AC (80G) for any employee/individual for a financial year. I could not find it in any ready reckoner. Please help me out. |
" |
Is donation to Indian Pollution Control Association coming under section 80G ?
samyuktha
(service)
(42 Points)
Replied 20 February 2009
In some cases 50% or 100% of the donation is allowed as deduction
donation is restricted to 10% of total income
You can get more information at https://www.payit.in
developed by mimir software https://www.mimir.in
You can calculate your income tax at https://www.payit.in
Regards,
samyuktha
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