Taxable amount

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2014 SIR,
IF SOME ONE HAVE YEARLY INCOME RS. 500000.00
HE HAS DEPOSITED RS. 100000.00( IN U/S 80C TO 80 CCD). RS. 20000.00 IN UNDER 80D.
RS. 50000 FOR HIGHER STUDY FOR HIS SON(80 EE)
FURTHER HE HAS DEPOSITED RS 130000 IN U/S 80 G ( PRIM MINISTER RELIEF FUND)

WHAT IS THE TAXABLE AMOUNT.

MY FURTHER QUERY IS WHAT IS THE LIMIT OF EXAMTION OF 80G ( IF SOME ONE DEPOSITED RS. 500000.00 THE NO AMONUT TO PAY AS TAX AS PER ABOVE)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 July 2014 then deduct all the amount from 5 lakhs then only 1 lakkhs is chargeable and then slab is applicable i.e upto 2 lakhs no tax.

u need to check whether full donation is allowed or 50% is allowed.

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2014 sir,
if Income is Rs. 600000.00 & deposited rs. 400000.00 in 80G(in 100% ) what is taxable amount & what is the limite of 80 G

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 July 2014 the limit is the amount u donated u/s 80G and 100 % is allowed.

2 lakhs shall be chargeable but applying slab there will be no taxable income at last.

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