Give back to communities you care about while minimizing your tax burden. Making a gift to a qualified charity is not only a generous act but can also result in significant tax benefits. By leveraging charitable deductions, you can effectively minimize your taxable income and may save significant amount of money. It's important to understand Top to
Understanding Charitable Donations Under Section 80G
Charitable donations in India can greatly reduce your tax liability under Section 80G of the Income Tax Act. This section provides deductions for contributions made to eligible charitable organizations and trusts registered with the government. To claim these benefits, it is crucial to understand the parameters outlined in Section 80G. Donations t