Dear Friedns,
Total salary income Rs 300000/-
80C 50000
80G Rs 15000/- (save the childrend Fund 80 G Exempt)
How much amount is eligible for 80G and what is my taxable income
Thanks in advance
Menu
80 G
Replies (9)
for 80G, follow the receipt in hand , section , quantam and all related information is there.
Donation to National Children's fund is 50% allowable as deduction
| Originally posted by : Sumiti Jain | ||
 |
Donation to National Children's fund is 50% allowable as deduction |
 |
Its Save the Children Fund
You should ask this que to expert to know the perfect answer.
Computation of Taxable Income
Salry -- 300000
less- 80c 50000
less 80G -12500
Total taxable salary - 237500
DEDUCTION IS AVAILABLE ONLY FOR 10% OF ADJUSTABLE INCOME.
IN YOUR CASE ADJUSTABLE INCOME IS RS. 250000
AND UNDER SEC 80G DEDUCTION IS AVAILABLE UPTO 50% OF ADJUSTABLE INCOME
Are there any tax benefits for donating to Save the Children?
Save the Children offers 50% tax exemption under section 80GGA.
Deduction shall be 50%.
Total income chargeable to tax in this case will be Rs. 2,42,500/- after deducting Rs. 50,000/- towards 80C and Rs. 7,500/- towards 80G.
agree navin jain answer.......
Right answer is
Total income chargeable to tax in this case will be Rs. 2,42,500/- after deducting Rs. 50,000/- towards 80C and Rs. 7,500/- towards 80G.
Recent Threads
- TDS on partners remuneration u/s 194 T
- Income Tax Financial Year 2025-26
- GST Rate RCM
- AI in ERP and System Audits - Why Auditors Should
- Can updated return be filed having salary income a
- Save LTGC on land sale
- Property given on rent- ITC
- India-EU Trade Pact: Tariffs Down, Opportunities U
- How to get online work as a accountant
- GST mandatory when exporting services?
Related Threads
CAclubindia
