Save Tax u/s. 80 G

Apart from investments under Section 80C, tax can also be saved by giving Donations. U/s. 80G Donations to registered social institutions qualify for exemption.

One such Institution is "Maharogi Sewa Samiti" (MSS), an Institution started by Shri. Baba Amte, humanitarian and peace activist in 1949. MSS has helped 2.5 million marginalised people through its constructive programs. Anandwan today shelters over 2100 differently abled people (leprosy patients, hearing and speech impaired, visually challenged, orphans, senior citizens and socio-economically backward people) and not only provides with basic necesities but also encourages education and vocational training to help them regain their self-esteem and lead a dignified life.

 

​

 

INSPITE of all the contributions created to social causes, there's an enormous gap between the demand of cash from the destitute and also the quantity given by philanthropists. This in all probability, is that the reason why the govt has given tax advantages on donations. the quantity given towards charity attracts deduction underneath section 80G of the taxation Act, 1961. Section 80G has been within the law book since twelvemonth 1967-68 and it looks it’s here to remain. Many deductions are hyped up however the tax sop for donations seems to possess survived the axe.

 

There are two type of deductions under Section 80G. You get 100% deduction if you donate to Prime Minister's Relief Fund, Chief Minister's Relief Fund etc. i.e. government funds. But you get 50% deduction if you donate to Non - Government Social Institutions.
Again the maximum amount of donation is unlimited if you donate to government funds but there is a upper limit of 10% of your gross income if you donate to Non - Government Social Institutions.

 

For any queries regarding tax deductions u/s. 80G, Members may refer the following link:
https://taxguru.in/income-tax/all-a...-of-the-income-tax-act-1961-for-donation.html