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Showing posts from March, 2026

Problem: Donation 80 G (courtesy: Margam Publication)

  Problem: Donation 80 G (courtesy: Margam Publication) Mr.Sanju has earned gross total income of Rs.8,00,000 in the previous year 2024-25 and made the following donations 1.         Rs.60,000 to Chief Minister’s Earthquake Relief Fund,Gujarat 2.         Rs.30,000 to National foundation for communal harmony 3.         Rs.38,000 to a University ( of National Eminance) 4.         Rs.41,000 to Jawaharlal Nehru Memorial Fund 5.         Rs.35,000 to Govt.of India for promotion of family planning 6.         Rs.70,000 to State Govt. for charitable trust 7.         Rs.45,000 to Municipal committee 8.         Mediclaim premium paid by cheque to GIC Rs.35,000. Compute his total income for the asse...

DEDUCTION U/S 80 G : DONATION TO SPECFIED INSTITUTIONS

DEDUCTION U/S 80 G : DONATION TO SPECFIED INSTITUTIONS Who can claim this deduction 1.         Individuals 2.         Companies 3.         Firms 4.         Hindu Undivided Firm (HUF) 5.         Non-Resident Indian (NRI) 6.         Any other person Essential Conditions Ø   Sum of money not in kind Ø   Should me made to specified institutions. Ø   Any tax payer can claim Ø   Proof of payment is essential Ø   It is divided into three: A.     100% qualifying and 100 % deductible B.      100 % qualifying and 50% eligible for deduction C.      Restricted donations A.100% qualifying and 100 % deductible 1.       PM CARES Fund  (Prime Minister’s...