Understand the cash donation limit.

Mamtajadhav0101 Dec, 2021Other

Donors who have made donations to charitable trusts are familiar with the benefits of Section 80G under the Income Tax Act, 1961. This act allows national residents, organizations, and NRIs to claim a deduction for amounts donated when filing income tax returns. There is, however, a tax deduction limit ranging from 50% to 100% depending on the charitable organization. Occasionally, the income tax department makes available (and updates) a list of institutions and associations indicating the maximum deduction that can be claimed for donations made to each entity.