Additionally, Section 80G of the Income Tax Act allows taxpayers to claim deductions on donations made to specified charitable institutions and funds. This provision encourages individuals and organisations to support charitable causes while also enjoying tax benefits.
Must cross-check that the NGO is registered under the Section 12AB act and should be working for charitable purposes, including relief work for the poor, education, meals, yoga, and medical relief.
There is a limit on anonymous donations, and up to ?2,000 qualify for tax deductions. Donations can be made in cash, online, and 80G deduction certificate can be claimed by individuals, companies, firms, NRIs and other individuals. The deduction can be claimed up to a maximum of 50% or 100% of the donated amount, depending on the institution or fund to which the donation under 80G has been made. The receipt must have the name and address and PAN number of the institution or fund, the amount donated, and the registration number of the institution.
https://sakshingo.org/80g-tax-exemption-on-donation/
#incometaxbenefits #donationtaxbenefits #80gexemption #taxsavingindia #charitabletrustdonation #ngodonation #taxdeduction80g
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