80gga


80gconsultant

Uploaded on Feb 20, 2023

Category Business

Section 80g of the Income Tax Act of 1961 grants tax exemptions and deductions to individuals donating money to charitable institutions. This article will detail the benefits of Section 80g, what types of donations are eligible, how to apply for benefits, tax exemption and deduction limits, documentation required and tips and advice on how you can use section 80g to save on taxes.

Category Business

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80gga

Understanding charity contributions: a guide to section 80g Contributing to charity is a great way to make a difference in the world and help those who need it most. However, understanding what qualifies as a charitable donation, as well as how to maximize the benefit of your contributions, can be confusing. Section 80g is one of the most important pieces of legislation concerning charitable donations in India. Here we provide an overview on understanding how section 80g works and how it can help you maximize your charitable donations. Section 80g is part of the income tax act 1961 and allows donors to claim tax deductions for their eligible contributions. Section 80g of income tax act • Section 80g of the income tax act provides tax deductions for individuals who make donations to certain approved organisations and funds. This section is designed to encourage charitable giving, enabling taxpayers to reduce their taxable income. It applies only to specified donations made in India and those made out of net taxable income. The eligible organisations must be approved by the central government or authorised local authorities, and listed in section 80g(5). The list includes institutions like the prime minister’s national relief fund, national defence fund, Jawaharlal Nehru memorial fund, state relief funds etc. Donations may also be made directly to a university or educational institution in India approved by the ugc or any recognised medical institute as mentioned under section 10(23c). CRYSTAL VISION Section 80g Contact Us Address -- Office no.204 , 45B 1st Floor , Hasanpur Main Road, Patparganj , Delhi-110092 E-Mail Id – [email protected] Contact Us - 9711105597 Website - https://www.taxexemption.in/80g.html