Section 80G Exemptions - Eligibility, Documents Required, and Claiming Process
Charity foundations w ork tirelessly to help the less fortunate and needy people in society. To help them with their work, the government provides citizens with tax relief for charitable contributions and donations. Section 80G of the Income Tax Act covers the specific requirements as well as the overall scope of tax deductions on such contributions. What is Section 80G? Section 80G of the Income Tax Act allows you to claim an exemption for charitable donations made throughout the financial year when you file your Income Tax Returns. This may put you in a reduced tax bracket, lowering your tax liabilities. Eligibility to claim deductions under section 80G The section 80 G exemption eligibility requirements are quite broad. To claim tax deductions under Section 80G, you must meet the following eligibility requirements: Individuals and HUFs are eligible to claim deductions on their donations. NRIs who donate to national NGO s are eligible for tax benefits. The taxpayer must provid