Jan 7, 2025
Donating to NGOs is a powerful way to make a difference. Beyond the satisfaction of supporting a worthy cause, Indian donors can also benefi
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Donating to NGOs is a powerful way to make a difference. Beyond the satisfaction of supporting a worthy cause, Indian donors can also benefi
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Section 80G Deduction: Tax Benefits on Donation Made to NGO
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations, however, are not eligible for deductions under Section 80G.Letβs find out how this works.
Taxpayers who donate to specified institutions such as National Defence Funds, National Illness Funds, Prime Minister Relief Fund, etc. can save up to a 100% of the donations in taxes under Section 80g. This deduction is available for both cash and non-cash donations. In addition to this, taxpayers can also claim deductions for donations made towards scientific research or rural development up to a maximum of 100%. These donations should be made via cheque or demand draft in order to be eligible for deductions under section 80g. The receipts received from the respective institutions have to be attached along with the income tax return as proof for claiming these deductions.