Donations play a pivotal role in supporting various charitable causes and contributing to the societal development. Section 80G of the Indian Income Tax Act provides tax exemptions for donations made to eligible organizations. Understanding 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 tax advantages to individuals who make generous donations to eligible organizations. These donations are reduced against your tax liability, 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