Donations play a pivotal role in supporting various charitable causes and contributing to the societal advancement. Section 80G of the Indian Income Tax Act provides tax deductions for donations made to eligible organizations. Understanding the nuances of Section 80G is crucial for both donors and recipients, ensuring fairness in charitable giving.
Charitable Donations under Section 80G
Under Indian tax law, Section 80G grants tax advantages to individuals who make philanthropic gifts to eligible organizations. These gifts are subtracted from your overall tax burden, effectively reducing the amount of income tax due. The extent of the deduction donation to charity letter depends on the type of organization and the nature of the gi