AMPLIFYING YOUR GENEROSITY: SECTION 80G AND CHARITABLE CONTRIBUTIONS

Embarking on a philanthropic journey offers immense personal satisfaction. While the desire to contribute is commendable, understanding the nuances of tax benefits linked with charitable donations can boost your impact. Section 80G of the Income Tax Act provides a framework for eligible donations directed towards registered charitable organizations

Prior to the passage of The brand new legal guidelines in the course of the pandemic, the maximum allowable deduction was restricted to 10% of a corporation's taxable income. The regulation now permits C organizations to apply an elevated Corporate Limit of twenty five% of taxable income for charitable contributions of cash they've produced to qual