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Form 26as download online6/15/2023 The maximum amount allowable under Section 80G shall be 50% of the lower of a) the amount donated (i.e., Rs 90,000) or b) the qualifying limit, i.e., Rs. In this case, the qualifying limit is Rs. Next, you need to calculate the qualifying limit for your donations under Section 80G, which is 10% of your adjusted gross total income. This is your gross total income (GTI) reduced by deductions under Section 80C and short-term capital gains under Section 111A, which in this case is (10 lakh - 1.5 lakh - 1 lakh) = Rs. To calculate the maximum amount allowable under Section 80G, you must first compute your adjusted gross total income. 1.5 lakh under Section 80C and earned short-term capital gains of Rs. Additionally, you have claimed deductions of Rs. 90,000 to NGOs, which are eligible for a 50% deduction subject to a qualifying limit of 10%. Let's assume your gross total income for the year is Rs. (e) Any income referred to in Sections 115A, 115AB, 115AC, 115ACA, 115AD and 115D (d) Short-term capital gain arising from securities specified under Section 111A (b) Share of profit in Association of Persons (AOP) eligible for rebate under Section 86 (a) Amount deductible under Section 80C to 80U (Except Section 80G) The adjusted gross total income shall be computed after reducing the following from your gross total income: If the total amount donated to those specified funds or institutes exceeds 10% of your adjusted gross total income (GTI), any excess amount beyond the 10% limit will not be eligible for deduction. However, in some instances, you must first determine the maximum qualifying limit, which is eligible for deduction. Payments to certain institutions are eligible for 100% or 50% without any qualifying limit.
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