hi
what is limit u/s 80 G
CA CS VINAYAK PATIL
(CHARTERED ACCOUNTANT)
(921 Points)
Replied 19 February 2009
| Originally posted by :harinath | ||
| " | hi what is limit u/s 80 G |
" |
Deduction limit is depend on u r donors 80G Certificate
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 19 February 2009
There is no specified limit. However, it depends on to whom you are paying the donation.
In some cases 50% of the donation is allowed and for some organisation it is 100% allowable.
yogesh dave
(service)
(376 Points)
Replied 19 February 2009
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 19 February 2009
Certain donations eligible for 100% or 50% deductions are subject to the ceiling of 10% of GTI of the assessee as reduced by:
i) Deductions u/s.80CCC to 80U (Excl. 80G),
ii) Such income forming part of the total income but on which income-tax is not payable,
iii) LTCG
iv) STCG taxable u/s.111A and
v) Income refereed to in Sec. 115A, 115AB, 115AC or 115AD.
samyuktha
(service)
(42 Points)
Replied 20 February 2009
In some cases 50% or 100% of the donation is allowed and for some cases 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
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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