Donations Under 80G Income Tax – A Smart Way to Give and Save
Giving back to society is not only an act of kindness but also a wise financial decision in India. The Income Tax Act, 1961 provides several provisions to encourage philanthropy, and one of the most significant is Donations Under 80G Income Tax . This section allows taxpayers to claim deductions on donations made to eligible charitable institutions and relief funds, thereby reducing their taxable income. Understanding Donations Under 80G Income Tax Donations Under 80G Income Tax refer to contributions made to approved organizations that qualify for deductions under Section 80G of the Income Tax Act. These organizations can be non-profits, charitable trusts, or government relief funds working for public welfare, education, health, or disaster relief. Not all donations qualify — only those made to registered and recognized institutions with a valid 80G certificate are eligible for the deduction. Extent of Tax Deduction The benefit of Donations Under 80G Income Tax depends on the ...
