AMPLIFYING YOUR CONTRIBUTIONS: CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial perks through charitable donations is a noble endeavor that promotes responsible wealth management. Under Section 80G of the Income Tax Act, contributors can claim deductions on their income tax returns for contributions made to eligible non-profits. This provision not only minimizes your tax liability but also allocates resource

For example, it is possible to “bunch” your charitable contributions in just one tax calendar year, employing a donor-encouraged fund, to improve the volume you donate in the substantial-income calendar year, and then the resources can be used to guidance charities after a while. Or you can make a mixed gift of appreciated assets and hard cash