TAX BENEFITS OF CHARITABLE DONATIONS UNDER SECTION 80G

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 tax exemptions on their contributions made to eligible trusts. These benefits aim to motivate individuals and organizations to contribute towards the social well-being of the

For example, leaving an IRA to charity and appreciated securities to individuals may possibly enable your heirs to inherit additional due to the dissimilarities concerning how these property are taxed. finances 2023 provided that donations created to the next funds won't be eligible for almost any deductions underneath 80G: many subcategories of