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If you give money for a good cause, I-T Act offers you tax benefits

Section 80G deduction can be availed of by a person who makes an eligible donation, but conditions apply

Bindisha Sarang 

Giving money for a good cause often needs a nudge. And the Income Tax Act does that well with Section 80G, which provides good tax benefits for giving donations. “Section 80G of the Income Tax Act, 1961 provides for deduction from Gross Total Income (GTI) of a taxpayer in respect of certain donations made,” says Suresh Surana, founder, RSM India.

This means if you have made any donations in the financial year, then Section 80G can work like a charm. The deduction can be availed of by any individual or assessee. Ashok Shah, senior partner, NA Shah Associates, says: ...

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First Published: Wed, February 19 2020. 00:10 IST
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