Income Tax Section 80G: Understanding Donation Deductions and Limits
3 hours agoBusiness
28LENS
1 Sources
TBNthebalanced.news
Income Tax Section 80G: Understanding Donation Deductions and Limits

Section 80G of the Income Tax Act allows taxpayers to claim deductions for donations made to eligible entities. Donations are categorized into four types based on deduction limits: 100% without limit, 50% without limit, 100% with a limit of 10% of adjusted gross total income, and 50% with a similar limit. This section applies to individuals, HUFs, companies, and firms with taxable income.

Political Bias
33%34%33%
Sentiment
55%