Giving back to society is a wonderful way to contribute the world. But, it can also be a smart financial move by providing valuable tax benefits. By donating to eligible charities, you can decrease your taxable income and acquire money on your tax bill. Several factors determine the amount of your tax savings, including the amount you donate, the
Charitable Donations under Section 80G
Under Indian tax law, Section 80G grants financial incentives to individuals who make charitable contributions 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