80g-deduction

Section 80g of the Income Tax Act in India gives taxpayers the possibility of cutting some charitable organizations for donations made. The purpose of this deduction is to encourage people and corporations to encourage philanthropy through allowing people and corporations to cut their contribution by one percent. The deduction varies depending on the character of the organization, some characters for a few 100% cut and others for 50%. To avail this benefit it is important to obtain a receipt from the charity and to ensure that it is registered under 80g.