Most mistakes have occurred due to incomplete details or leaving blank of value of deduction claim in ITR 1 or in the Schedule VIA in ITR 2. In most cases only the total deduction value is mentioned.
- The deduction amount claimed should be entered in Items 4a to 4l in ITR 1 and in Items a to m in Schedule VIA in ITR 2.
- Total of all deductions claimed should be entered in Item 4m in ITR 1 and Item n in Schedule VIA in ITR 2.
- Eligible donation for the purpose of deduction under 80 G for donations to charitable institutions (other than certain specified institutions or funds such as Prime Minister’s Relief Fund or Rajiv Gandhi Foundation) is restricted to 10 % of total income after excluding income chargeable to special rates of tax. The actual deduction under 80G that can be claimed is 50% of such eligible deduction.
- Likewise, typically all deductions have specific criteria and limits for claims.
- The sum of all deductions also cannot exceed the total income.
- Deduction cannot be claimed against income chargeable to special rate tax.
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