Giving back to those in need is a wonderful way to contribute the world. Furthermore, it can also be a smart financial move by providing valuable tax benefits. By donating to eligible charities, you can decrease your taxable income and save money on your tax bill. Many factors influence the amount of your tax savings, including the amount you dona
Tax Benefits from Charitable Giving under Section 80G
Under Indian tax law, Section 80G grants deductible benefits to individuals who make charitable contributions to eligible organizations. These contributions are deducted from your taxable income, effectively reducing the amount of charity to donate wedding dress income tax due. The extent of the deduction depends on the type of organization and the