Exemption u/s 80g
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2012
Dear sir,
I look forward to have a reply from my learned friends how much should be taken for computation of salary TDS if any employee donate Rs. 2000.00 to "save the children" organisation.
Thanks & regards
A. Ghosh
I look forward to have a reply from my learned friends how much should be taken for computation of salary TDS if any employee donate Rs. 2000.00 to "save the children" organisation.
Thanks & regards
A. Ghosh
Amol S Joglekar
(Expert)
21 December 2012
While computing TDS from salary, do not consider any donation unless they are for 100% e.g. PM's relief, National Relief etc.
21 December 2012
Agreed with Amol Sir. Let the employee take the benefit u/s 80G while filing his/her return.
Preety Chawda
(Expert)
21 December 2012
If The mentioned organization is an approved organization, Then, Donation allowed as deduction u/s 80G will be restricted to 50% of the (10% of adjusted Gross Total Income)
I.e say for example, the Gross total Income after taking into a/c & after deducting all the deductions mentioned u/s 80 (except deduction u/s 80G), say comes to Rs. 300000/- deduction allowed will be
=50%*10%*300000/- = 15000/- or Rs. 2000/- actually paid , whichever is lower.
I.e say for example, the Gross total Income after taking into a/c & after deducting all the deductions mentioned u/s 80 (except deduction u/s 80G), say comes to Rs. 300000/- deduction allowed will be
=50%*10%*300000/- = 15000/- or Rs. 2000/- actually paid , whichever is lower.
CA BHARATH KUMAR
(Expert)
24 December 2012
i agree with experts
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