When considering charitable contributions, understanding the tax benefits offered under Section 80G can significantly impact your decision-making process. This section of the Income Tax Act provides deductions for donations made to eligible organizations, thereby amplifying the financial impact of your generosity. By carefully selecting recipients … Read More

A special limitation applies to selected gifts of extensive-expression capital achieve home.  A discussion of that Specific limitation might be located in Publication 526, Charitable Contributions PDF.   For contributions of food inventory in 2020, organization taxpayers may possibly deduct skilled contributions of around 25 percent in their c… Read More