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80g

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(Querist)
16 June 2017 If an Individual / company donates land to a charitable trust registered u/s 12A of the Income tax Act, would the individual / company eligible for getting exemption u/s 80G? If yes, how would it be calculated?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 June 2017 For Claiming 80G donation mode should be in cheque or draft or in cash. But deduction is not allowed for donations made in cash exceeding Rs 10,000.
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swasti

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swasti (Querist)
26 June 2017 Thanks Sir.
So if individual / company makes such a donation, would there be a capital gain to be calculated or it would straightaway reduced from the capital of the individual / company and no tax implications would be there to the donor. Please suggest.
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