ELEVATING YOUR GIVING : CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial perks through charitable donations is a noble endeavor that fosters responsible wealth management. Under Section 80G of the Income Tax Act, individuals can claim deductions on their income tax returns for contributions made to eligible charities . This provision not only minimizes your tax liability but also channels resources to

enterprises donating food stock which might be qualified for the existing Increased deduction (for contributions for your care of the ill, needy and infants) could qualify for elevated deduction boundaries. For contributions created in 2021, the Restrict for these contribution deductions is enhanced from 15% to twenty five%. For C firms, the 25% li