Donations play a pivotal role in supporting various charitable causes and contributing to the societal advancement. Section 80G of the Indian Income Tax Act provides tax deductions for donations made to eligible organizations. Understanding the nuances of Section 80G is crucial for both donors and recipients, ensuring accountability in charitable g
Securing tax benefits while contributing to worthy causes is a win-win situation. Under India's Income Tax Act, donations made to registered charitable organizations under Section 80G can potentially reduce your tax liability. These generous contributions offer significant financial incentives for individuals who wish to support social development.
The annuity trust offers you extra predictability in the expense of versatility, with mounted payments that received’t fluctuate, however, you can’t add for your contribution. These posthumous donations can minimize estate and inheritance taxes for your personal heirs and don’t count towards the life span estate and reward tax exemption.