80g of income tax act

Section 80g of the Income Tax Act, 1961, allows specific corporations to claim deduction for donations made in taxpayers in India. This provision is a provision of targets to encourage individuals and groups to allow a philanthropic contribution to the way they allowed their taxable earnings to reduce their taxable earnings. The eligible donations for deduction consist of people made for charitable institutions, comfort value limit and those made for fixed NGOs which they are registered below Section 80g. Cuts may be one 100% or 50% of donations, depending on the organization. It is important to maintain appropriate documents to avail this benefit.