Securing financial benefits through charitable donations is a noble endeavor that fosters 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 organizations . This provision not only reduces your tax liability but also channels resources
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For contributions produced in 2021, the Restrict for these contribution deductions elevated from 15% to twenty five%. The 25% limit is predicated about the taxable income for C organizations, and for other organizations, which includes sole proprietorships, partnerships, and S organizations, the limit relies on their aggregate Internet income for t