Dear Pankaj
I donated 20K in the last financial year to ISKON temple. My receipt shows that this donated amount can be used to claim tax benefit.
Can the entire donated amount be used to claim the tax benefit?
Regards, Vishal
1 Answers
In this case, 50% of the donation made can be deducted from taxable income as per section 80-G. As you donated 20000, you may deduct 10000 from your income.
Also there is a further rule that if this amount is more than 10% of your gross total income, then only maximum 10% of gross total income will be allowed for deduction.
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