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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
