AMPLIFYING YOUR CONTRIBUTIONS: CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial benefits through charitable donations is a noble endeavor that fosters responsible wealth management. Under Section 80G of the Income Tax Act, taxpayers can claim deductions on their income tax returns for contributions made to eligible organizations . This provision not only lowers your tax liability but also allocates resources

As an example, you can “bunch” your charitable contributions in a single tax 12 months, using a donor-encouraged fund, to increase the total you donate inside of a substantial-income 12 months, after which the money may be used to assistance charities over time. Or you can make a combined gift of appreciated property and cash to maximize your b