COMPUTATION OF DEDUCTION U/S 80G
CATEGORY | GQA (Total Amount Donated) | NQA | Amount of Deduction |
I (17 Items) | 100% | 100% of GQA | 100% of NQA |
II (5 Items) | 100% | 50% of GQA | 100% of NQA |
III (2 Items) | 100% | 100% of GQA | 100% of NQA* |
IV (5 Items) | 100% | 50% of GQA | 100% of NQA* |
*Deduction under category III & IV cannot exceed 10% of ATI
ATI(Adjusted Total Income) means Gross total income as reduced by
Deduction permissible u/s 80C to 80U except 80G.
Income referred u/s 111A, 112, 115BB (because chapter VIA deductions not available to such incomes)
CATEGORIES OF FUNDS
CATEGORY – I | CATEGORY – II | CATEGORY – III | CATEGORY – IV |
17 FUNDS (No need to remember) | 1. PMDRF | 1. For promoting family planning(donated to govt., LA, AA) | 1. Donated to public charitable trust. |
2.Jawaharlal NMF | 2. Donated to govt. or LA for charitable purpose. | ||
3.National Children’sfund | 3. Amount donated for renovation of notified temple, Mosque, Church or Gurudwara. | ||
4.Rajiv Gandhi Foundation | 2. Contribution by company to IOA or to any associations u/s 10(23). | 4. Any donations to corporation of a govt. for promoting interest of SC, ST, BC. | |
5.Indira Gandhi MF | 5. Donations to authority set-up for providing housing accommodation or town planning. |