Income tax section 80g

Section 80g of the Income Tax Act, 1961 provides tax deduction for donations made to specific charitable institutions and budget. This provision is designed to motivate philanthropy in India and help for social causes. Trusting as a taxpayer agency, one can declare a cut of 100% or 50% of the volume donated. Like the National Defense Fund or Prime Minister National Relief Fund, contribute to the positive budget, usually qualifies for 100% cut, as well as donations to other registered ngos can also provide 50% deduction. To avail benefits under section 80g, one must ensure that the recipient organization is registered under this stage. Donors should maintain the donation receipt, mainly mention the registration volume of the enterprise, as it is important to claim deduction at some point of tax filing. In addition the deduction is equally available to people and company institutions, making it a powerful tool to strengthen charitable by participating in tax benefits. Overall, section 80g is a way of life to promote social obligation among taxpayers.