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80G in ITR FORMS

211 views 3 replies
In ITR forms, under schedule 80 G, there are 4 parts.
A. 100% deduction without qualifying limit
B. 50% deduction without qualifying limit
C. 100% deduction with qualifying limit
D. 50% deduction with qualifying limit

1. What is the meaning of qualifying limit?
2. Donation to PM CARES FUND where to be shown?
Replies (3)
1.The qualifying limits u/s 80G is 10% of the adjusted gross total income. The limit is to be applied to the adjusted gross total income.

The ‘adjusted gross total income’ for this purpose is the gross total income (i.e. the sub total of income under various heads) reduced by the following:

Amount deductible under Sections 80CCC to 80U (but not Section 80G)

Exempt income

Long-term capital gains

Short- term capital gains taxable @ 15 per cent under section 111A.

Income referred to in Sections 115A, 115AB, 115AC, 115AD relating to non-residents and foreign companies

2. Donation to PM care fund is eligible for 100% deduction.
Thank you, Tusharji.
The various donations specified in section 80G are eligible for a deduction of up to either 100% or 50% with or without restriction i.e qualifying limit (upper limit up to which you can claim) as provided in section 80G.
The qualifying limits u/s 80G is 10% of the adjusted gross total income. The limit is to be applied to the adjusted gross total income.

Donation to PM CARES Fund is eligible for 100% deduction without qualifying limit ( i.e your 100% donation is allowed as deduction without the limit of 10% of the adjusted gross total income )


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