Giving back to society is a wonderful way to impact the world. But, it can also be a smart financial move by offering valuable tax benefits. By giving to eligible charities, you can decrease your taxable income and acquire money on your tax bill. Several factors affect the amount of your tax savings, like the amount you donate, the type of charity
Charitable Donations under Section 80G
Under Indian tax law, Section 80G grants deductible benefits to individuals who make generous donations 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 gift. It's crucial to