Problem in Calculating Eligible Deduction u/s 80G, 80GG
This query is : Resolved
Piyush Agrawal
(Querist)
23 December 2009
Situation:
Section 80G provides for deduction from Gross Total Income on account of Donations There are donations which are eligible for Dedction subject to a Qualifying amount (i.e. 10% of (GTI (-) STCG u/s 111A (-) LTCG (-) Deductions of Chapter VI excluding 80G)
Similarly :
Section 80GG provides for Deduction on Account Rent paid which also requires Calculation of Adjusted Gross Total Income (Adj. GTI = GTI (-) STCG u/s 111A (-) LTCG (-) Deductions of Chapter VI excluding deduction u/s 80GG)
Problem:
So the problem is if you get a case in which both the above deductions are to be calculated how will you calculate the Adj. GTI as for calculation of 80G you need amount of deduction u/s 80GG and for calculation of 80GG you need amount of deduction u/s 80G
Section 80G provides for deduction from Gross Total Income on account of Donations There are donations which are eligible for Dedction subject to a Qualifying amount (i.e. 10% of (GTI (-) STCG u/s 111A (-) LTCG (-) Deductions of Chapter VI excluding 80G)
Similarly :
Section 80GG provides for Deduction on Account Rent paid which also requires Calculation of Adjusted Gross Total Income (Adj. GTI = GTI (-) STCG u/s 111A (-) LTCG (-) Deductions of Chapter VI excluding deduction u/s 80GG)
Problem:
So the problem is if you get a case in which both the above deductions are to be calculated how will you calculate the Adj. GTI as for calculation of 80G you need amount of deduction u/s 80GG and for calculation of 80GG you need amount of deduction u/s 80G
Heera Nahariya
(Expert)
23 December 2009
refer V.K. Singhania's Direct Taxes or Student Guide to Income Tax (chaper:Taxations of Individuals or deductions from gross total income.) A good example is there explaining in detail.
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