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Section 80G Income Tax Deductions on Donations  Form

Section 80G Income Tax Deductions on Donations Form

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[Music] hello and welcome to an investment economy today we are going to discuss about section 8 PG which gives deductions on your donations doing charity is a noble task not just the God but the tax department acknowledges this fact as well therefore you get more than just good karma for donating your income to charitable institutions section 8 the G of Income Tax Act offers a tax deduction on contributions made to certain charitable institutions prescribed under the Income Tax Act all taxpayers are eligible under this section studying financial year 2017 18 any donations made in cash exceeding rupees 2000 will not be allowed as deduction therefore the donations exceeding rupees 2000 should be made in any mode other than cash to qualify as deduction under Section 8 eg in-kind contribution such as for material clothes medicine etc do not qualify for deduction under this section not to be able to claim this deduction the following details have to be submitted in your income tax return n

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