Giving back to those in need is a wonderful way to contribute the world. Furthermore, it can also be a smart financial move by offering valuable tax benefits. By donating to eligible charities, you can decrease your taxable income and save money on your tax bill. Several factors affect the amount of your tax savings, such as the amount you donate,
Charitable Donations under Section 80G
Under Indian tax law, Section 80G grants deductible benefits to individuals who make philanthropic gifts to eligible organizations. These donations are subtracted from your overall tax burden, effectively reducing the amount of tax you owe. The extent of the deduction depends on the type of organization and the nature of the gift. It's crucial to n