section 80g of income tax act applicability

Recreational clubs: Club trading income is exempt up to the greater of 5 per cent of total receipts and accruals or the amount indicated.
(zK) any amount received by or accrued to or in favour of a small, medium or micro-sized enterprise from a small business funding entity; Paragraph (zK) inserted by section 14(1 l) of Act.Section 6(2 b r4 680 3 the rate of tax referred to in section 2(1) of this digitalriver windows 7 iso Act to be levied in respect of the taxable income of any trust (other than a special trust or a public benefit organisation or recreational club referred.21 of 1994; (xiii) deleted by Income Tax Act No 38 of 1996; (xiv) deleted by the Revenue Laws Amenendment Act, 74 of 2002; (xv) deleted; (xvi) of (aa) the compensation fund established by section 15 of the Compensation for Occupational Injuries and Diseases Act.In certain cases this issue has already come up before the Courts in the context of disallowance under section 14A also and view has been taken by the High Courts and the Tribunals that no disallowance is called for where the assessee has made investments.For entering a learnership with a new disabled employee, the additional deduction for the employer is limited to the monetary ceiling indicated.30 of 2000; (cL) Subsection (1 cL) deleted by Income Tax Act No 36 of 1996; (cM) Subsection (1 cM) deleted by the Taxation Laws Amendment Act, 2008 (Act.Of the Trust Under 80G on receipt.
Donations to private trusts Step 1: Find out the qualifying amount The qualifying amount under this category will be lower of the following two amounts: a) The amount of donation b) 10 per cent of the gross total income as reduced by all other deductions.




30 of 2000; (g) any amount received as a war pension, or as an award or a benefit under any law relating to the payment of compensation in respect of diseases contracted by persons employed in mining operations ; (gA) any disability pension paid under.Paragraph (ii dd) of the proviso to paragraph (c) of the definition of pension fund in section.So Old 80G certificate will remain valid if the same is valid.Exemption for interest and certain dividends: Exemption for domestic interest and otherwise taxable domestic collective scheme dividends in respect of persons younger than 65 years Section 10(1 i xv bb B) R18 000 Exemption for passive portfolio savings in respect of persons of 65 years.Dividend income is only incidental income in such cases.Section 10(1 i xv aa) R3 000.On the same analogy, the exemption is also in respect of the net income.National Cultural Fund.Indira Gandhi Memorial Trust.The controversy, however, is in respect of the expenditure which is not directly relatable to the investments or to the exempt income.