TAX BENEFITS OF CHARITABLE DONATIONS UNDER SECTION 80G

Charitable donations in India are recognized as a laudable 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 institutions. These perks aim to stimulate individuals and organizations to contribute towards the social well-being

This entry documents the non-cash donation to a professional charitable organization. The donation is produced up of assets, for example merchandise, products and services, or other assets, and is considered deductible by The inner Revenue Service. To qualify with the deduction, the donation needs to be built to a certified charitable Corporation.