Securing tax benefits while contributing to worthy causes is a win-win situation. Under India's Income Tax Act, donations made to registered charitable organizations under Section 80G can potentially lower your tax liability. These generous contributions offer significant financial incentives for individuals who wish to support social development.
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A domestic fraternal society, operating beneath the lodge technique, but only if the contribution is to be used completely for charitable purposes; for just a tax generate-off, you need to retain a bank history for cash donations. For example, you need to maintain a replica of a canceled Examine, financial institution or bank card assertion or rec