MAXIMIZING YOUR IMPACT : CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial benefits through charitable donations is a noble endeavor that fosters responsible wealth management. Under Section 80G of the Income Tax Act, individuals can claim deductions on their income tax returns for contributions made to eligible charities . This provision not only reduces your tax liability but also allocates resources

"That will let you lessen your taxable income," states Ed Slott, a CPA who educates money advisers on IRA and retirement organizing procedures. It's also possible to assert a charitable deduction, assuming it is possible to itemize in the year you donate. It can be more challenging to deduct your charitable giving, but there remain strategies to a