80g deduction limit is an important term to understand for those who are claiming tax deductions, because it can significantly reduce the amount of money paid in taxes. The 80g deduction limit is a cap on the total amount that an individual or business can claim as a charitable donation for tax purposes. This means that if you have made more than one donation throughout the year, only a portion of those donations (up to the maximum allowable 80g deduction limit) may be used to receive any applicable tax benefits. The 80g deduction limit applies to all types of charitable donations and applies across all applicable years when filing taxes, so it’s important to keep track of your donations throughout the year.
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