Guide to section 80g income tax

Guide section 80g of the Income Tax Act, offers taxpayers in India the opportunity to assert deductions on donations made to detailed charitable businesses. This provision is designed to encourage philanthropy and support for social causes. Taxpayers can claim deductions of fifty to one hundred of the donated amount depending on the type of organization. To avail of this benefit, donors have to ensure that they are registered below Section 80g and are indexed within the Income Tax Department's authorized listing. It's vital to achieve a receipt from the business enterprise detailing the donation as this could be required for the duration of tax submission. Donations may be made in coins cheques or online however cash donations exceeding ?2,000 are not eligible for deduction.