AMPLIFYING YOUR CONTRIBUTIONS: CHARITABLE DONATIONS UNDER SECTION 80G

Securing financial benefits through charitable donations is a noble endeavor that promotes responsible wealth management. Under Section 80G of the Income Tax Act, individuals can claim deductions on their donation to charity journal entry income tax returns for contributions made to eligible non-profits. This provision not only minimizes your tax l

What exactly are "Quid Professional Quo" Contributions "Quid Professional quo” donations are those for which the donor receives an financial benefit which include merchandise or expert services in return for the gift. Let's say a donor gets a T-shirt in return to get a donation. almost 9 in ten taxpayers now go ahead and take common deduction an