Hello Sreekanth - I am a senior citizen in the 20% income tax bracket. I would appreciate feedback, with specific examples on how the tax is computed to take into account donations made to govt approved charitable organisations like TTD and Akshaya Patra. I am getting confused by terms such as AIT and IT exemptions like 50% and 100% permissability.
Thanks, Prakash.
1 Answers
Dear Prakash ji,
Kindly note that donations made to Religious Trusts like TTD & NGOs like Akshaya Patra are eligible for 50% deduction (of the total donation).
Suggest you to kindly go through below articles..
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