Giving back to society is a wonderful way to make a difference the world. Furthermore, it can also be a smart financial move by yielding valuable tax benefits. By donating to eligible charities, you can decrease your taxable income and save money on your tax bill. Many factors determine the amount of your tax savings, like the amount you donate, t
Tax Deductions for Philanthropic Contributions under Section 80G
Under Indian tax law, Section 80G grants financial incentives to individuals who make generous donations to eligible organizations. These gifts are deducted from your taxable income, effectively reducing the amount of taxes payable. The extent of the deduction depends on the type of organization and the nature of the gift. It's crucial to note that