Charitable donations in India are recognized as a noble act and are encouraged by the government. Under Section 80G of the Income Tax Act, 1961, donors are entitled to certain reliefs on their contributions made to eligible charitable organizations. These benefits aim to stimulate individuals and organizations to contribute towards the social well-
The best Side of donation for tax benefit
For illustration, you could “bunch” your charitable contributions in one tax 12 months, employing a donor-recommended fund, to boost the amount you donate within a high-income yr, then the resources can be used to support charities with time. Or you can also make a blended reward of appreciated belongings and hard cash To maximise your benefits