LEVERAGING TAX BENEFITS FOR CHARITABLE DONATIONS UNDER SECTION 80G

Section 80G of the Indian Income Tax Act provides valuable incentives to citizens who contribute to eligible charitable organizations. This section allows for a considerable tax relief on donations made, making it a win-win situation for both the donor and the recipient. To effectively utilize this provision, one must grasp the various conditions l

generally, contributions to charitable businesses could be deducted as many as 50 p.c of modified gross income computed with no regard to Internet working reduction carrybacks.  Contributions to certain personal foundations, veterans organizations, fraternal societies, and cemetery organizations are restricted to 30 p.c modified gross income (c