• February 1, 2023 12:16 pm
  • Delhi India

Tax deductions can be a great way to make sure that your hard earned money is going towards causes that are meaningful to you. One of the most popular tax deductions available today is the tax exemption under section 80g of the income tax act, 1961. It allows donors to claim a 50% or 100% deduction from their taxable income when they donate to certain approved charitable organizations or trusts. This means that individuals who choose to donate can get a significant reduction in their taxes, while still supporting causes they believe in. The 80g tax exemption applies only when donations are made by cash or cheque directly to an eligible charity or trust. If donations are made through any other medium such as online transfers, credit cards, etc., then the exemption may not apply.
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