Donations US 80G

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MUKUL CHANDRA DAS (Querist)
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09 March 2011 Hi I have paid donation to charitable institute around Rs.80,000.Can you please tell me how much i rebate us 80G

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 March 2011 See your Gross Total Income : say 500000/
Deduct all Section 80 benefits say 125000/-

Your adjusted Gross Total Income 375000/
You can donate any amount but Qualifying amount will be 10% of 375000/ here.
As you have donated 80000/ but qualifying amount is 37500/-
Your deduction will be 50% of the qualifying amount U/s 80G.

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