80g tax exemption

Section 80g of the Income Tax Act in India presents taxpayers and measures the amount with the possibility of claiming deductions to special charitable companies. This discount is a sufficient incentive that aims to encourage philanthropy and help many social causes. Under Section 80g the recipient can produce deductions starting from 50% of the amount donated from 100% of the amount donated. To be eligible, charity needs to register and diagnose by the Income Tax Department. Importantly, donors need to conduct receipts and applied documents to validate their contribution when submitting tax returns. It now promotes charitableness due to lack of handle, although it also allows persons and corporations to reduce the burden.