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.
Printable View
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.
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.
Deduction donation is restricted to 10% of total income.