Deductions

The following deductions must be made before computing the revenue that falls under the heading "Income from other sources," namely:-

  (a) any reasonable amount paid as commission or compensation to a banker or other individual for the purpose of realising such dividends or interest on securities on behalf of the assessee in the event of dividends or interest on securities;

  (b) deductions, to the extent possible, in accordance with the requirements of another clause of any other sub-section section 36, in the event of income of the sort referred to in a sub-clause of a section which is liable to income-tax under the category "Income from other sources"; You are at the right place for deduction under section 80g.

  (c) income of the kind mentioned in clauses (ii) and (iii) of sub-section (2) of section 56 is subject to deductions, to the extent possible, in accordance with sub-clause (ii) of clauses (a) and (c) of section 30, sub-sections (1) and (2) of section 32, and subject to Section 38 requirements;

  (d) income described in clauses (ii) and (iii) of sub-section (2) of section 56 is subject to reductions, to the extent required, in accordance with clauses (a) and (c) of section 30, clauses (1) and (2) of section 32, and is subject to Section 38 criteria;

  (e) any additional expense (that is not a capital expense) that is planned out or paid for solely with the intention of generating such income.

In the event of an assessee that is a foreign corporation, neither clause (a) nor clause (e) shall apply in determining the revenue mentioned in clause (a), clause (aa), or clause (ab) of subsection (1) of section 115A. In the case of a taxpayer being a foreign corporation, neither clauses (a) nor (e) shall apply in determining the revenue received in the form of dividends.

For the purpose of realising the dividend or interest on behalf of the taxpayer, any reasonable amount paid as a commission or other compensation to a banker or other person serving as a collection agent is permitted as a deduction.

At this moment, you should visit 80g deduction.