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

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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%)

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2012 That means deduction is calculated correctly in ITR-4 ecel file

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 Yes it is calculated correctly.

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