Donation benefits

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2012 Is there any benefit for individual/corporate for donations which they have paid in FY, while doing the ITR?? IF YES, what is the information has to provide, and what is maximum benefit will get.. please let me know the benefits of donations also....

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

20 February 2012 You can claim deduction U/s 80G in respect of donations made to the institutions Registered U/s 80G.
.
If you pay donation to private charitable trusts, you get 50% deduction on the basis of Qualifying amount which is 10% of the adjusted gross total income.
.
In certain central Govt. Funds, if you donate , you may get 100% deductions.
.
By the amount of deduction your total income gets reduced and you have to pay tax on lesser amount.
.
For more details you mau follow the link-
http://www.thinkplaninvest.com/2009/02/income-tax-exemption-on-donations-ngo-under-section-80g/

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2012 Dear Sir,

Thank you very much for the information....

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2012 dear sir,

i am from UAE,

i used to send money on an average 10 lakhs to 12 lakhs for a year,(FY)...

till now i have not done any tax filing na all...

i have PAN Card, i used to do trading in equities but still i have not done the tax filing.

please suggest me on this....!!!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok