In India, charitable donations are deductible under Section 80G of Income Tax Act.
Charity is an important part of society. It helps to improve the lives of people who are less fortunate. In India, charitable donations are deductible under Section 80G of Income Tax Act. This means that you can save tax on your donations.
To qualify for a deduction under Section 80G of Income Tax Act, you must make a donation to a qualifying charity. A qualifying charitable Institute/Trust/Society is one that meets the following conditions:
1) It is registered with the government.
2) It is a voluntary organisation.
3) The main purpose of the charity is to benefit society as a whole.
Donations made to a qualifying charitable Institute/Trust/Society are treated as if they were made directly to the government. This means that you can save tax on your donation by claiming it as a deduction from your taxable income.
There are several ways to make your donations tax efficient. You can make your donation through an online fund-raising website or through a financial institution. You can also make your donation in cash or by using a gift card.
