How to claim 80g deduction for charitable contributions a step-by-step guide
The basics of deduction of charitable contributions under 80g It is a simple process to claim 80g deduction on charitable contributions, which makes taxpayers contribute to social, educational and religious causes by giving them tax deductions. The initial one is to realise that only the donations made to the organizations registered in accordance with section 80g of the Income Tax Act can be deductible. Such organizations may be trusts, non-governmental organizations, religious institutions and other charitable organizations that are registered by the Income Tax Department. After a donor gives a donation, he must receive a certificate from the charity, which is essential in claiming the deduction. The certificate, which is called the 80g certificate, includes such vital information as the registration number of the organisation, the amount of the donation and the percentage of deduction (50 or 100). Before donating, one should ensure that the organization is a registered organiz...