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