Giving back to society is a wonderful way to impact the world. Furthermore, it can also be a smart financial move by offering valuable tax benefits. By contributing to eligible charities, you can reduce your taxable income and acquire money on your tax bill. Numerous factors affect the amount of your tax savings, including the amount you donate, t
Tax Benefits from Charitable Giving under Section 80G
Under Indian tax law, Section 80G grants deductible benefits to individuals who make charitable contributions to eligible organizations. These gifts are deducted from your taxable income, effectively reducing the amount of tax you owe. The extent of the deduction depends on the type of organization and the nature of the contribution. It's crucial t