UNLOCKING TAX BENEFITS: UNDERSTANDING SECTION 80G CHARITABLE DONATIONS

Charitable donations are a significant way to give back causes you care about. But did you know that these contributions can also yield significant tax benefits? In India, Section 80G of the Income Tax Act provides substantial deductions for gifts made to eligible charities. To optimally exploit these tax benefits, it's essential to grasp the int

commonly, contributions of lengthy-phrase capital attain (LTCG) assets will lead to a deduction equal for the fair market place value of the house, subject matter to the thirty% of AGI limitation. This rule hasn't been affected through the Tax Cuts and Careers Act (TCJA). LTCG residence is outlined as property that may generate a lengthy-expression