Saved Bookmarks
| 1. |
Mrs. Sharma has furnished the following information:Business incomeRs. 1,30,000/-Income from house propertyRs. 80,000/-Capital Gains (Long Term)Rs. 40,000/-Capital Gains (Short Term)Rs. 20,000/-Income from other sourcesRs. 15,000/-Deposit in PPFRs. 10,000/-She pays Rs. 5,000/- p.m. as rent for his residential accommodation in Delhi. Assuming, she or her family has no other residential accommodation, calculate deduction allowable u/s 80G to Mrs. Sharma for the relevant assessment year. |
||||||||||||||||||||||||
|
Answer» The deduction u/s 80 G is the least of the following:
The maximum deduction allowed u/s 80 G is Rs. 24,000. Working Note : Adjusted total Income = Gross Total Income – Special Income – Deductions except u/s 80 G = 2,85,000 – 40,000 (LTCG Income) – 10,000 (Deduction U/s 80 C – deposit in PPF) = Rs. 2,35,000/-
|
|||||||||||||||||||||||||