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hvkumar
20-03-2009, 07:12 AM
Can sombody tell me what is the maximum amount can be allowed it Income tax deduction under section 35AC (80G) for any employee/individual for a financial year. I could not find it in any ready reckoner. Please help me out.

Taxman
20-03-2009, 07:13 AM
You had asked about the maximum allowable deduction, You can get deduction upto your total income. I mean if you want to give your all of total income as donation then department has no problem in giving credit to you with regard to that.

Taxman
20-03-2009, 07:14 AM
Deduction donation is restricted to 10% of total income.