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
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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 | ||
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Donation to National Children's fund is 50% allowable as deduction |
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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.
https://www.savethechildren.in/support-us/faq.html
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.
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