Reduce Tax Liability through Donations!

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Reduce tax liability by making donations under Section 80G! Under this section you can claim deduction if you have made a donation to an approved fund or a charitable institution, such as, Prime Minister’s Relief Fund, National Children’s Fund, or CRY. This deduction is over and above other deductions such as 80C.
Some donations, like those to Prime Minister’s Relief Fund, Approved University or educational institution, earthquake relief funds, national illness assistance fund, national sports fund, etc, qualify for 100% deduction from income. Donations to CRY and Red Cross are not specifically mentioned in the Income Tax Act, but generally donations to these organizations are deductible up to 50% under Section 80G.Before making a donation, remember to check with the organization about donation’s eligibility of deduction under section 80G.Generally you should donate only up to 10% of your gross total income. Give generously to your favourite institution next time!