80g calculation request

ITR Filing 1470 views 7 replies

I have some small queries in the ITR filing. Please help me on this.


Gross total income: 6,00,000
TDS: 30,000
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.


Regards,
Sakitram
 

Replies (7)

If you have taken any other deductions other than 80G such as 80C, 80D etc then deduct those also from the GTI & 10% of that amount would be the maximum amount that can availed as deduction u.s80G.

Yes, but there is no savings of 80C or any other.

So, then I believe my calculation is correct.

 

But in the ITR form, when I enter all these things in 80G tab, I get the value around 30,000  only in "Eligible Amount of Donation" instead of around 60,000.  I do not understand how this auto calculation having this wrong calculation.  I am using the latest version Excel sheet only - 2012_ITR1_PR22.xls. 

So I am just worrying whether I am making any mistake in calculation or this ITR Excel tool is making mistake.

Please confirm where wrong calculation.

It's strange that the utility is calculating the amount of Rs 30000 instead of 60000k,  Once again please verify that you have put the correct details in all the specified areas so that the GTI comes to 6lacs only.  Are you salaried person, if that is the case then the decution u/s 80C for PF will also be considered.  If self employed then no issues with the adjsuted GTI.

Please try to communicate with some expert for this issues.

It all seems to be the mistake of choosing the appropriate category of 80G. 80G.B - Donations entitled for 50% deduction without qualifying limit If I put the donation amount here (1.5lakhs), I see 60K as eligible amount of donation for deduction. 80G.D - Donations entitled for 50% deduction subject to qualifying limit If I put the donation amount (1.5lakhs), I see 30K only as eligible amount of donation for deduction. Please tell me how to find the 80G category for the donation. It is a private orphanage institute and they said 50% of the donation is applicable for tax deduction as well. Please help me to find the appropriate category.

Just for the testing, I freshly downloaded the ITR-1 form and in that I had the following input only (nothing else).

- In Income details tab, Income from Salary = 600000

- In 80G tab, D.1 Amount of donation = 150000

 

Now, I see only 30,000 as Eligible amount of Donation. 

Even though, 50% donation applicable for deduction and the upper limit is there upto 60,000 (ie 10%), but the calculated amount it just 30,000 (instead of 60,000).

Please let us know how this is possible OR is it wrong.

 

Thanks

donation is capped to 10% i.e 60000 and as per 80G the deduction is 50%, i.e 30000

Thanks U.S. Sharma.


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