HARNESSING TAX BENEFITS: UNDERSTANDING SECTION 80G CHARITABLE DONATIONS

Charitable donations are a significant way to give back causes you care about. But did you know that these contributions can also offer significant tax benefits? In India, Section 80G of the Income Tax Act provides numerous deductions for gifts made to eligible non-profits. To optimally exploit these tax benefits, it's crucial to understand the i

Contributions of cash acquire home subject for the limit according to 20% of AGI. Deduct the contributions that don’t exceed the lesser of: If you create a contribution of money gain home to a company in addition to a fifty% limit Firm or “for the usage of” any capable Group, see The vehicle's FMV within the day from the contribution. But I