ELEVATING YOUR GIVING : CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial advantages through charitable donations is a noble endeavor that fosters responsible wealth management. Under Section 80G of the Income Tax Act, taxpayers can claim deductions on their income tax returns for contributions made to eligible non-profits. This provision not only minimizes your tax liability but also directs resources

Businesses donating foods inventory that are qualified for the prevailing enhanced deduction (for contributions for that treatment in the ill, needy and infants) may perhaps qualify for greater deduction restrictions. For contributions made in 2021, the Restrict for these contribution deductions is amplified from 15% to 25%. For C organizations, th