Article 80A of the Income Tax Act, 1961, offers a significant tax advantage to individuals and companies making donations to approved charitable institutions. This provision encourages philanthropic activities by providing deductions on taxable income.
Article 80A allows taxpayers to claim a deduction from their total income for donations made to approved charitable institutions. The amount deductible is subject to certain conditions and limitations.
To claim the deduction, taxpayers must include the following information in their income tax return:
Article 80A offers a valuable opportunity to contribute to society while enjoying tax benefits. By understanding the provisions and complying with the guidelines, taxpayers can maximize their deductions and support worthy causes.
On March 26, 1991, a public holiday in South Korea, five young boys from a…
Set on the outskirts of Hyderabad, Telangana, Ramoji Film City is a sprawling entertainment and…
Samsung is set to unveil its Galaxy Z Fold 7 at the Unpacked Event in…
If you’re looking for a powerful laptop in 2025 that can handle coding, gaming, and…
Following the strong market response to the Nothing Phone (1) and (2), Carl Pei’s innovative…
Mayday is an internationally recognised distress signal used in radio communications to indicate a life-threatening…