Posts Tagged ‘80G’

Deductions under 80G – IT Act 1961

Deductions under 80G – IT Act 1961

The need of charity in a resource crunched country like India cannot be undermined. Therefore, in order to encourage charity, the government has made a provision for deduction under 80G. At the same time, in order to prevent misuse of the tax benefit, the government only gives out tax soap for charities that meet a certain criteria. The amount donated can be subjected to either full or partial exemption. Any taxpayer – be it Individual or Company, can claim for […]