Calculating your donation of 80g

Calculating your donation under section 80g of the Income Tax Act can appreciably advantage your tax making plans whilst supporting philanthropic reasons. To decide the eligible amount for deduction determine your overall contributions made to registered charities or non-profit corporations at some stage in the financial yr. Remember that whilst some donations qualify for a 50% deduction, others can also allow for a 100% deduction. After figuring out the applicable percentage, honestly multiply the whole amount donated by using that percent to examine your deduction restriction. This ensures you maximize your tax blessings even as making a effective effect on society. Always maintain receipts and documentation in your information.