AMPLIFYING YOUR CONTRIBUTIONS: CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial benefits through charitable donations is a noble endeavor that encourages responsible wealth management. Under Section 80G of the Income Tax Act, individuals can claim deductions on their income tax returns for contributions made to eligible charities . This provision not only lowers your tax liability but also channels resources

“It’s like obtaining a pension,” claims Simasko. “They’ll spend you a set, predictable income stream for the rest of your lifetime. when you die, anything leftover stays with the charity.” the quantity of income relies on the charity, the size of your gift along with your age—the older that you are, the upper the payment. NerdWallet'