Giving back to society is a wonderful way to impact the world. Furthermore, it can also be a smart financial move by providing valuable tax benefits. By donating to eligible charities, you can lower your taxable income and save money on your tax bill. Numerous factors determine the amount of your tax savings, including the amount you donate, the t
Charitable Donations under Section 80G
Under Indian tax law, Section 80G grants financial incentives to individuals who make philanthropic gifts to eligible organizations. These contributions are reduced against your tax liability, effectively reducing the amount of income tax due. The extent of the deduction depends on the type of organization and the nature of the donation. It's cruci