80g dedution in itr-4
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 June 2012
Hi,
Gross Total Income Rs.10,59,260.00
Deduction u/s 80C Rs.1,00,000.00
Deduction u/s 80CCF Rs.20,000.00
Deduction u/s 80D Rs.12,568.00
Donation given Rs.1,06,111.00
Deduction u/s 80G
Lower of
(10,59,260-1,00,000-20,000-12,568)*10%*50%
i.e.46,335
OR
50%of 1,06,111 i.e.53,056
In ITR-4 Deduction is calculated as 53,056
Can u please tell me whether this is mistake in ITR-4 excel file & how to rectify this mistake since we are not able to manually modify Deduction u/s 80G
Thanks
Gross Total Income Rs.10,59,260.00
Deduction u/s 80C Rs.1,00,000.00
Deduction u/s 80CCF Rs.20,000.00
Deduction u/s 80D Rs.12,568.00
Donation given Rs.1,06,111.00
Deduction u/s 80G
Lower of
(10,59,260-1,00,000-20,000-12,568)*10%*50%
i.e.46,335
OR
50%of 1,06,111 i.e.53,056
In ITR-4 Deduction is calculated as 53,056
Can u please tell me whether this is mistake in ITR-4 excel file & how to rectify this mistake since we are not able to manually modify Deduction u/s 80G
Thanks
13 June 2012
Deduction allowed u/s 80G is 10% of GTI or 50% of donation.
You have calculated 50% of 10% of GTI.
It is 10% of GTI (not 50% of 10%)
You have calculated 50% of 10% of GTI.
It is 10% of GTI (not 50% of 10%)
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2012
That means deduction is calculated correctly in ITR-4 ecel file
14 June 2012
Yes it is calculated correctly.
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