Donations play a pivotal role in supporting various charitable causes and contributing to the societal advancement. Section 80G of the Indian Income Tax Act provides tax deductions for donations made to eligible organizations. Comprehending the nuances of Section 80G is essential for both donors and recipients, ensuring accountability in charitable
Tax Deductions for Philanthropic Contributions under Section 80G
Under Indian tax law, Section 80G grants deductible benefits to individuals who make generous donations to eligible organizations. These contributions 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