erese Dividend from shares in Indian company Income from units of UTI Other incomes Gross Total Income Less : Deduction u/s 80G Total Income Exempt Exempt 42.000 46.000 76,000 2.000 74,000 Mr. X earned GTI of Rs: 5,00,000 in the P. Y and made the following donations during the year by cheques: a) Rs: 10,000 to CM's Earthquake Relief Fund Maharashtra. b) Rs: 15,000 to National Foundation for Communal Harmony. c) Rs: 40,000 to municipality for family planning d) Rs: 25,000 to approved institutions Compute the amount of deduction admissible u/s 80G for the A.Y.2013-14 541 Computation of Deduction u/s 80G Particulars Rs: Rs: a)CM's Earthquake Relief Fund (100% of amount 10.000 donated) b)National Foundation for Communal Harmony (100% of 15,000 amount donated) c and d) Qualifying amount is 10% of GTI (Rs: 50,000): Donation to municipality for Family planning 40.000 ( 40.000 x 100%) For the balance amount 50% (10,000 x 50 %) 5,000 45.000 Deduction u/s 80 G 70,000 Illustration: From the following, prepare a statement of assessment of income of Mr. Ashikh for the A.Y. 2013-14: 1) Monthly salary Rs: 15,000 w.e.f. 01-07-2012. 2) His contribution to URPF is 15% 3) Employer's contribution is 10% 4) Dividend on preference share of an Indian company Rs: 8,000 5) Deposit made in a bank (interest 5 %) Rs:20,000 6) He owns a house, half of which is occupied by his son for his residence who is living separate from his father and the other half is let at Rs: 1.500 p.m.; insurance premium Rs: 250; local taxes Rs:6,000 7) He has income from a firm Rs:12.000 and fror the HUF Rs: 10,000