I have some small queries in the ITR filing. Please help me on this.
Gross total income: 6,00,000
Donation to private intitution (50% limit): 1,50,000
In this case, how much deduction is applicable under section 80G.
1,50,000/2 (as 50% only allowed for decution) = 75,000
10% of total income (maximum limited allowed for 80G deduction) = 60,000
So the final amount applicable for deduction is 60,000, is it correction calculation?
Thanks your answer.