Hi,
My Adjusted Gross Total Income for FY20-21 is Rs. 6,00,000.
I have made donations under category D ("Donations entitled for 50% deduction subject to qualifying limits") of Rs. 1,00,000.
One advisor is saying that I am eligible for 80G deduction of Rs. 50,000 -
Mimimum [10% of AdjustedGross , 50% of TotalDonation]
= Minimum [60000, 50000] = 50,000
Another advisor is saying that I am eligible for deduction of Rs. 30,000.
50% of Miniumum [10% of AdjustedGross, TotalDonation]
= 50% of Minimum [60000, 100000] = 50% of 60000 = 30,000
Can someone please clarify what is the correct interpretation?
CAclubindia
