80G is the section which deals with the Donations made by the assessee and the rate of the deduction that can be availed !! The following are the rates and the sum of among can be availed and Here you can find 80G Deduction Calculator in Excel Format.
80G Deduction Calculator in Excel
To avail the deduction the following proofs should be needed:
- stamped receipt: The proof of giving the donation to the institute. A receipt that should be stamped in the name of that institute
- form 58 Details like the cost of project etc
- photocopy of 80g certificate The registration copy of getting the registration of 80g
The Following Categories are the Forms of Deductions Given:
Category 1: Where the deduction is available without any upper limit
- Institutions where 100% donation is eligible for deduction
- Institutions where 50% donation is eligible for deduction
Category 2: Where the deduction is subject to maximum limit of 10% of Adjusted Gross Total Income
- Institutions where 100% donation is eligible for deduction
- Institutions where 50% donation is eligible for deduction
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Donations which Qualify for 100% Deduction without any upper limit:
- National Illness Assistance Fund
- National Blood Transfusion Council or to any State Blood Transfusion Council
- National Defence Fund set up by the Central Government
- Prime Minister’s National Relief Fund
- National Foundation for Communal Harmony
- Zila Saksharta Samiti constituted in any district under the chairmanship of the Collector of that district
- Fund set up by a State Government for the medical relief to the poor
- National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
Donations which Qualify for 50% Deduction without any upper limit
- Jawaharlal Nehru Memorial Fund
- Prime Minister’s Drought Relief Fund
- Indira Gandhi Memorial Trust
- Rajiv Gandhi Foundation\
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Donations which Qualify for 100% Deduction subject to 10% of Adjusted gross total income:
- Government or any approved local authority, institution or association to be utilized for the purpose of promoting family planning.
- Donation by a Company to the Indian Olympic Association or to any other notified association or institution established in India for the development of infrastructure for sports and games in India or the sponsorship of sports and games in India.
Donations to the following institutions are eligible for 50% deduction subject to 10% of adjusted gross total income:
- Any other fund or any institution which satisfies conditions mentioned in Section 80G(5)
- Government or any local authority to be utilized for any charitable purpose other than the purpose of promoting family planning
- Any authority constituted in India for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns, villages or both
- Any corporation referred in Section 10(26BB) for promoting the interest of minority community
- For repairs or renovation of any notified temple, mosque, gurudwara, church or other places
Calculation of Adjusted gross total income for 80g:
Gross total income
Less: Long Term Capital Gain
Less: Short Term Capital Gain on the sale of shares u/s 111A
Less: Deductions u/s 80C to 80U (except u/s 80G)
Less: Exempt income
Less: Income referred to in Sections 115A, 115AB, 115AC, 115AD & 115D, relating to non-residents and foreign companies
=Adjusted Gross Total Income
Less: Deduction u/s 80G
=Total Taxable Income