80g tax exemption

Section 80g of the Income Tax Act claims cuts on donations made to unique charitable companies in taxpayers in India. This provision promotes philanthropy and encourages people to contribute to non -profit reasons. As a result of the donation, the company may have a 50 % tax deduction, depending on the eligibility of the company or one 100 % of the amount donated. However, registered installations should be contributed and well documented to take advantage of exemption. Taxpayers need to obtain a receipt to verify their claims, ensuring each transparency and compliance. Overall, Section 80g promotes social obligation, while financially benefits the donor.