|
|
Know how the donor get benefited by giving the donation under 35AC IT Act
IF TOTAL INCOME |
DEDUCTION U/S 35AC |
TAXABLE INCOME |
TAX AMOUNT |
CESS |
TOTAL TAX PAYABLE |
TAX SAVED |
| 3,00,000 |
IF NO DONATION MADE |
3,00,000 |
14,000 |
420 |
14,420 |
NIL |
| 3,00,000 |
50,000 |
2,50,000 |
9,000 |
270 |
9,270 |
5150 |
| 15,00,000 |
IF NO DONATION MADE |
15,00,000 |
30,4000 |
9120 |
313120 |
NIL |
| 15,00,000 |
1,50,000 |
13,50,000 |
2,59,000 |
7,770 |
2,66,770 |
46,350 |
|
Other benefit If Donation is u/s 80G then only 50% of Donation is reduced but in second column above
u/s35AC full amount 100% is reduced.
TAXABLE INCOME |
TAX RATE |
| 1,60,000 TO 5 Lac |
10% |
| 5 to 8 Lac |
20% |
| Above 8 Lac |
30% |
|
|
