UNDERSTANDING CHARITABLE DONATIONS UNDER SECTION 80G

Charitable contributions are a vital aspect of societal well-being. In India, Section 80G of the Income Tax Act provides taxdeductions for donations made to eligible charitable organizations. This provision aims to promote philanthropy and aid non-profit institutions in their endeavors. To avail these tax exemptions, it is crucial to understand the

You can even have forward some of your unused deductions above a duration of five years, When they are the result of eligible donations. Taxpayers who itemize can usually declare a deduction for charitable contributions to qualifying businesses. The deduction is typically limited to twenty% to sixty% of their adjusted gross income and differs base