Giving back to your community is a wonderful way to contribute the world. But, it can also be a smart financial move by offering valuable tax benefits. By contributing to eligible charities, you can lower your taxable income and acquire money on your tax bill. Several factors influence the amount of your tax savings, including the amount you donat
Tax Benefits from Charitable Giving under Section 80G
Under Indian tax law, Section 80G grants financial incentives to individuals who make philanthropic gifts to eligible organizations. These gifts are subtracted from your overall tax burden, effectively reducing the amount of income tax due. The extent of the deduction depends on the type of organization and the nature of the donation. It's crucial