80G
This query is : Resolved
03 February 2011
What will be the deduction for donation of Rs5000/- in educational trust.Will the deduction be Rs 2500 or something else.Pls do not copy section 80G from the IT Act as the answer. Pls show the calculation if the deduction is something else than Rs 2500/-
CA PARAS BAFNA
(Expert)
03 February 2011
Yes , Deduction U/s 80G will be Rs.2500/.
The qualifying amount of donation will be limited to 10% of (GTI less other deductions of chapter VIA.)
More ever, the trust should be Certified for 80G by CIT.
The qualifying amount of donation will be limited to 10% of (GTI less other deductions of chapter VIA.)
More ever, the trust should be Certified for 80G by CIT.
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03 February 2011
Thanku so sir.....
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