Deduction under section 80g

Section 80g of the Income Tax Act gives taxpayers in India with the possibility of claiming deductions for accurate charitable establishments. This section encourages philanthropy using individuals and corporations allowing to cut contribution from its taxable profits, then reduces their standard tax liability accordingly. Eligible agencies include terrible, training, medical studies and relief for environmental protection. Donation should be done in coins or separate prescribed paperwork and some limitations are mainly applied to the type of charitable unit.