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The Saroji Foundation, which was established 15 years ago, engages in CSR initiatives including helping the impoverished and children with their education as well as with their health and nutrition.
The amount paid by the taxpayer as a contribution to any fund, institution, or charity Trust is eligible for a Section 80G deduction under the Income Tax Act. The Income Tax Act does not treat all gifts similarly. Donations to specific organisations and funds are eligible for 100% or 50% tax deductions without any upper limit.
Most of us have thought about contributing to charities and improving society at some time. Making a difference by giving to a cause you really support is admirable. The government offers its entire support to charity activities in light of this noble deed You are entitled to a tax deduction for gifts made to charitable organisations under Section 80G of the Indian Income Tax Act.
"80G Income Tax Act!"
For donations given to particular relief funds and charity organisations, you are eligible for a deduction under Section 80G of the Income Tax Act. But under Section 80G, not every contribution qualifies for a tax benefit.
Only contributions to specified funds are eligible for a deduction. Any taxpayer, including people, businesses, and corporations, may claim this deduction. If you choose the new tax system, you cannot take use of this deduction.
"80G Income Tax Claim!"
- 50% deduction allowed for donations with no upper limit.
- Donations eligible for a 100% deduction are subject to a maximum.
- Depending on the qualifying amount, 50% of donations are eligible for a deduction.
- For contributions eligible for a 100% deduction without a minimum amount required.
