AMPLIFYING YOUR CONTRIBUTIONS: CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial benefits through charitable donations is a noble endeavor that encourages 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 charities . This provision not only lowers your tax liability but also allocates resources

It is also great for retirees looking for more income, as the CRT provides typical payments in the course of retirement, and for philanthropists who would like to aid charities whilst taking pleasure in instant tax deductions and estate tax benefits. A study performed by Fidelity Charitable uncovered that about 67% of donors explained they require