
Hi everyone....I am working in a company located in Haryana. I want to donate my 1 month salary to …
Hi everyone....
I am working in a company located in Haryana. I want to donate my 1 month salary to trust. I asked my employer to directly deposit my salary in trust's bank account. Can I do so without having to pay any tax on such donated amount?
No, You have to pay tax on your salary donated to trust.
This is the case of foregoing of salary. Income Tax Act states that once salary accrue, subsequent waiver by employee does not reduce his liability to pay tax. Such waiver just amounts to application of salary and therefore it is chargeable to tax.
However, there is no need to worry. If trust has obtained 80G certificate then you can claim the deduction for the donated amount while filing return.
Thanks,
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No, You have to pay tax on your salary donated to trust.
This is the case of foregoing of salary. Income Tax Act states that once salary accrue, subsequent waiver by employee does not reduce his liability to pay tax. Such waiver just amounts to application of salary and therefore it is chargeable to tax.
However, there is no need to worry. If trust has obtained 80G certificate then you can claim the deduction for the donated amount while filing return.
Thanks,
You marked successfully unsatisfactory answer
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
-
Please hit on Submit to save your choice
OK
Virtuoso could have given a better solution.
Good
I am satisfied with virtuoso's answer.
Voila
An excellent answer I am impressed.
Excellent
I will ask my next question to this virtuoso only.
Thank you,
Yours sincerely,
Anu, Thakurani's bestie