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Thursday, May 16
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Budget 2018: Donations that offer 100% tax rebate


Mangalore Today News Network

New Delhi, Jan 31, 2018 : There are certain contributions/donations that can save you income tax, while providing you with the joy of altruism. These deductions are available under Section 80G of the Income Tax Act. This deduction can be claimed by any taxpayer – individuals or organisations.

 

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These deductions can only be claimed when the contribution has been made via a cheque or a draft or in cash. However, any donations made in cash exceeding Rs 2,000 will not be allowed as deduction. Thus, donations above Rs 2,000 should be made by any mode other than cash to qualify as a deduction under this section.


courtesy:yahoonews


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