Donation exempt or not?
This query is : Open
05 August 2009
Whether any donation paid to Public trust is exempt from tax or not? if yes under which sec. and up to what amount?
05 August 2009
If the public trust is registered with the income tax department and has approval under section 80G of the Income tax Act,1961, donation to such trust will be limited to 10% of the Gross total income of the doner and 50% of such amount or actual donation whichever is lower will be allowed as a deduction to the doner u/s 8oG
05 August 2009
Agreed.
06 August 2009
If the public trust is registered with the income tax department and has approval under section 80G of the Income tax Act,1961, donation to such trust will be limited to 10% of the Gross total income of the doner and 50% of such amount or actual donation whichever is lower will be allowed as a deduction to the doner u/s 8oG
06 August 2009
Thanks for your reply.
i also want to know that is there any other sec. under which 100% exemption is available to donar? religious trust will get benifit or not?
i also want to know that is there any other sec. under which 100% exemption is available to donar? religious trust will get benifit or not?
06 August 2009
Thanks for your reply.
i also want to know that is there any other sec. under which 100% exemption is available to donar? religious trust will get benifit or not?
i also want to know that is there any other sec. under which 100% exemption is available to donar? religious trust will get benifit or not?
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