exemption u/s 80G

This query is : Resolved

Rajeev (Querist)
Follow

03 March 2009 what is the limit of u/s 80G. suppose i got Rs. 10,00,000.00 p.a. & my investment is under section 80C Rs. 40,000.00, i want to give a donation to a registered trust of Rs. 3,00,000.00 then what amount is exempt u/s 80G.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

03 March 2009 Well, if it is a private trust with 50% exmption eligibility than , you eligible exemption shall be limited to GTI-Deduction u/s80C to 80U. In this case 10% of 940000/-.

Rajeev

Rajeev (Querist)
Follow

03 March 2009 you mean:
1000000-40000=960000*10%=96000
or
150000*50%=75000

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

03 March 2009 Your donation amount eligible for deduction shall be 96000. On this amount you will get benefit of 50%, ie 48000/-. If you are in bracket of 30% slab then your tax saving will be 48000*30% = 14400/- only.

Rajeev

Rajeev (Querist)
Follow

03 March 2009 Thanx:)

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

11 December 2009 I think in any Private Trust which you have donate of 50% less from your taxable income...u/s 80G

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

30 December 2009 Thanks Mr. Tarun

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

rana andcompany

MAYUR

Tanuj Kumar Sharma

Aravind S

UPENDRAN YADAV

Subscribe Now

exemption u/s 80G

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA