80g deduction calculation
aanchal patni (Trainee) (29 Points)
17 March 2017aanchal patni (Trainee) (29 Points)
17 March 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 17 March 2017
Gross total Income 600954
less 80TTA 1749
ADJUSTED TI 599205
LESS 80G 29961
RESTRICTED TO 10% ADJUSTED TI
TAXABLE INCOME 569244
It is presumed that the donations are of such nature which comes under the category of adjusting the same under 10% of adjusted gross total income on which 50% is eligible