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net taxable income

20 June 2018

sir in this AY i have to show deduction under section 80GG. now what will be the net taxable income for the said year.. e. g. after minus 80GG or including 80GG

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 20 June 2018

Gross income minus all such deductions u/c VIA, or say deduction u/s. 80GG will be net taxable income.......

Satish Kumar (185 Points)
Replied 20 June 2018

thank u sir

Sarath Rajendran (Nil) (2791 Points)
Replied 20 June 2018

No such specified limit

For the income above 2,50,000 all individuals are liable to file and pay tax as per income tax act

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 20 June 2018

Most Welcome .......

Sarath Rajendran (Nil) (2791 Points)
Replied 20 June 2018

Your Question is for Calculating Qualifing Amount for 80GG Deduction Follow the below mentioned Equation

The adjusted total income means :-

Gross Total Income

Less, Long Term Capital Gain, Short Term Capital Gain of 10% category, Deductions under sections 80C to 80U except section 80GG and income of foreign company.

Satish Kumar (185 Points)
Replied 20 June 2018

no sir I have calculated 80GG amount now i have to file form 10E for arrears so my question was for net taxable income for 10E form is after deducting 80GG amount or including that amount