UNDERSTANDING SECTION 80G DONATIONS FOR TAX BENEFITS

When you contribute to charitable organizations in India, you not only make a valuable impact on society but also gain potential tax benefits. This is where Section 80G of the Indian Income Tax Act comes into play. It allows for deductions on your taxable income when you donate to qualified institutions. To maximize your tax relief, it's crucial to

Putting the check in the mail for the charity constitutes payment. A contribution designed over a charge card is deductible from the year it truly is charged to your credit card, although payment towards the bank card business is designed in the later 12 months. What Is a Charitable Donation? A charitable donation is a present of money or property