TAX BENEFITS OF CHARITABLE DONATIONS UNDER SECTION 80G

Charitable donations in India are recognized as a noble act and are encouraged by the government. Under Section 80G of the Income Tax Act, 1961, donors are entitled to certain deductions on their contributions made to eligible charitable organizations. These incentives aim to stimulate individuals and organizations to contribute towards the social

"That will assist you to lower your taxable income," suggests Ed Slott, a CPA who educates fiscal advisers on IRA and retirement planning strategies. It's also possible to assert a charitable deduction, assuming you are able to itemize while in the year you donate. A survey completed by Fidelity Charitable located that about sixty seven% of donors