can anyone please tell me. A resident individual who has made payment towards donation to child education & relief fund, is eligible for deduction under income tax act or not.if yes under which section
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income tax deduction
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MR ADHIKARI, FIRST YOU HAVE TO CHECK THAT WITH THE RECEIPT OF DONATION YOU HAVE RECEIVED PHTOCOPY OF CERITICATE ISSUED BY THE ITO U/S 80G WHETHER DONATION PAID TO THIS FUND ARE ELIGIBLE U/S 80G. IF THIS FUND IS GIVING CERTIFICATE OF ITO U/S 80G THEN YOU CAN GET DEDUCTION OF 50% OF DONATION U HAVE PAID AS PER RECEIPT ISSUED BY THE FUND FROM YOUR TAXABLE INCOME. TOTAL DONATION PAID SHOULD NOT EXCEED 10% OF UR TAXABLE INCOME. THIS DEDUCTION IS ALLOWED U/S 80G OF I.T.ACT
I m really thankfull to ca clubindia who provides us very usefull information.
I REALLY THANX FULL TO CACLUB INDIA
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