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80g deduction calculation
Gross Total Income: 600954
Other Information:
U/S: 80TTA-1749
U/S: 80G-100000 (Restricted according to Income 100%)
Please Calculate the total Income after the above deductions.
Note:
1. We basically want to know that how much eligible deductions will the assessee get if the donation amt. 100000.
2. The Assessee is not salaried employee.
3. DOB: 20/10/1944
Replies (1)
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
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