Regarding 80 G
This query is : Resolved
CA Deepak Joshi
(Querist)
28 January 2010
Dear All,
I hv a small doubt. While calculating the deduction u/s 80 G we take into consideration the 10% of adjusted GTI.
Adjusted GTI= GTI- deductions u/c VI A
(assuming no shares income )
so if my GTI was like 350000 and u/c VI A i invested...
80C-100000
80D-30000
so will the adjusted GTI be 350000-100000-30000= 220000..
and deduction in 80G upto 10% of 220000= 22000....Is It True....
I hv a small doubt. While calculating the deduction u/s 80 G we take into consideration the 10% of adjusted GTI.
Adjusted GTI= GTI- deductions u/c VI A
(assuming no shares income )
so if my GTI was like 350000 and u/c VI A i invested...
80C-100000
80D-30000
so will the adjusted GTI be 350000-100000-30000= 220000..
and deduction in 80G upto 10% of 220000= 22000....Is It True....
Aditya Maheshwari
(Expert)
28 January 2010
Yes it is true. dedcution u/s 80G is restricted to 10% of gross total income less deductions under chapter VI-A but before 80G.
So what u say is true
So what u say is true
29 January 2010
Yes in the given case such restriction would be upto 10% of adj GTI
29 January 2010
Yes, in the given case the amount qualified for deduction u/s 80G is 10% of Rs. 220000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- Import Order Cancelled.
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
