Itr1 field for donation under 35ac

ITR 2953 views 3 replies

Shantanu

SSE

34 Points Joined January 2011

Hello,

I want to fill income tax return via online facility.

I've downloaded ITR1 form for A.Y. 2012-13.

In this form, I want to claim 100% deduction under 35AC for Rs.10000/-

However, I could not locate the column/field against which I can input the details under 35AC.

For 80G, there is whole new tab in excel where details can be entered but nothing for 35AC?

I 've little knowledge about ITR but I guess 80GC table in the 80G tab would be right place (see Note below)

Experts, please guide.

Note: This scheme mentioned fund sealing of Rupees Ten Crore. The sealing has not been reached by the end of financial year 2011-12.

Replies (3)

CMA Vikas Aggarwal

Executive(Costing)

163 Points Joined May 2011

Dear Shantanu,

Section 35AC is available to assessees who have income from the head ‘business’ or ‘profession’. Therefore, for the assessees who do do not have income from business or profession, section 80GGA provides for deduction on donations made to eligible projects under section 35AC. Section 80GGA, is a broader section and deductions are also available for contributions made for scientific research under section 35CCA & 35CCB, which have been withdrawn. 100 per cent deduction is available under section 80GGA, subject to the available gross total income under section 80A. Therefore, unlike section 35AC, deduction under section 80GGA cannot be carried forward in the form of losses to next year .

Regards,

Vikas Aggarwal

Shantanu

SSE

34 Points Joined January 2011

Thanks Vikas for replying.

BTW, I found a note at the bottom of the receipt which says,

"For the assessee who does not have income for the head 'business' or 'profession', the donation made is eligible for deduction at 100% u/s 80 GGA (2) (bb)"

Now, my question is, in which of those four tables from 80G tab of ITR1 form, do I fill in the details?

Thank you.