Donation under section 80g(5)

This query is : Resolved

NILESH DARJI (Querist)
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06 July 2012 Dear Sir,

One of my friend have given donation Rs. 60,600/- to charitable trust

his gross total income is 474340/- my income tax software calulate his donation rs. 16807/- instead of 50% amount

i can't understand this calulation

please guide me about this query

thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 July 2012 You have to arrive at the Qualifying Amount (QA), first, which is 10% of the Adjusted Gross Total Income (AGTI).
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AGTI means GTI less Deductions Under Chapter VIA, (Except U/s 80G).
There must be 80C, 80D like Deductions. Deduct these from the Gross Total Income (GTI) to get AGTI.
.
Deduction U/s 80G is allowable @50% of qualifying amount (QA-As referred in First Para).
.

Message likes : 2 times

Sanket

Sanket (Expert)
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06 July 2012 Agree with Paras Sir....

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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07 July 2012 There might be other deductions under chapter VI-A apart from donations.

Pls tell me the amount of other deductions like 80C, 80D etc

CA Prashant Gupta

CA Prashant Gupta (Expert)
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07 July 2012 details are not fully disclosed. for 80G deduction you need to get qualified amount. for this you need to deduct all other deductions of Chapter VI-A.
Then 10% of this amount will be max amount of 80G deduction. in your case it will be 50% also.
So please clear all the facts to get proper answer

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