Embarking on a philanthropic journey can be fulfilling. While the desire to contribute is commendable, understanding the nuances of tax benefits associated with charitable donations can significantly enhance your impact. Section 80G of the Income Tax Act provides a framework for eligible donations benefiting registered charitable organizations. By
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Your tax-deductible donations can involve mileage you drive to charitable occasions and volunteer alternatives, or mileage you utilized to bring merchandise to a donation web-site. Non-dollars contributions to qualifying organizations like community charities and working foundations are capped at 50% of the individual donor’s AGI. These methods