Canseva Foundation’s Post

✅ Section 80G tax exemption is a provision in the Indian Income Tax Act that encourages charitable giving by offering tax deductions for donations made to specified institutions. 💯 This means you can reduce your taxable income by the amount you donate, potentially lowering your overall tax liability. ➡️ Contact your Chartered Accountant TODAY! #incometax #tax #india #cancer #healthcare #philanthropy #csr

**An Idea** In India, charitable income is not taxed. What if all salaried individuals open charitable trusts and arrange for the companies they work for to make payments equivalent to their salaries to these trusts? Can any Chartered Accountant provide insights or suggestions on this scheme? Please share your opinions. #incometax

🌟 Tip of the Day: Giving back can also lead to tax benefits under Indian tax regulations! 🎁 Charitable contributions, whether made in cash or kind, have the potential to reduce your tax liability. 📝 It's essential to maintain thorough documentation of your donations, including receipts or acknowledgment letters from the charitable organizations. 💰 Consult with a tax expert to explore how your philanthropic efforts can result in tax savings. #TaxSavings #GiveBack #IndianTaxLaws

Donations made to specified charitable organizations under Section 80g of the Income Tax Act meet all requirements for charge derivations in India. Givers can guarantee allowances from their available pay for the given sum, likely to determine conditions and cutoff points. This arrangement means energizing generosity and backing social government assistance drives by giving tax reductions to people and substances contributing towards worthy missions. It's critical to guarantee donations are made to associations having a legitimate 80g certificate given by the Personal Expense Division to profit from these advantages and add to the improvement of society. #section80g #80gdonation #80gcertificate #80gregistration #80g #80gdeduction https://lnkd.in/gJFDiyvP

Your every donation helps to fund impoverished children’s education. In addition to being the most effective strategy to reduce taxes, charitable giving has the power to transform lives. Your contribution can help young, impoverished children have a better future. To take part in our campaign, we cordially encourage you to visit our website at https://lnkd.in/gBJeMHjK. Please feel free to contact us at info@digigaonfoundation.com with any questions. #educationforall #InvestInFutureLeaders #TaxSavings #ChildSponsorship #Donation” FAQs 1. Income Tax Exemption in India: it reduces taxable income, there may be total relief or a lower tax rate for particular income categories. 2. Saving Tax through NGO Donations: Section 80G of the Income Tax Act provides deductions for donations to registered charitable trusts and Section 8 companies. 3. tax Exemption Benefit for DigiGaon Foundation: Donations above ₹500 to DigiGaon Foundation qualify for a 50% deduction from taxable income. 4. Issuance of Tax Receipts: Tax receipts for donations to DigiGaon Foundation are mailed within 3 working days. 5. Calculation of 80G Donation Benefit: Tax is then calculated on this reduced taxable income based on prevailing rates.

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐚 𝐩𝐨𝐬𝐢𝐭𝐢𝐯𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐰𝐡𝐢𝐥𝐞 𝐞𝐧𝐣𝐨𝐲𝐢𝐧𝐠 𝐭𝐚𝐱 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬? 80G registration is your ticket to both! By registering under section 80G of the Income Tax Act, you not only contribute to worthy causes but also slash your tax liabilities. 𝟭. 𝗧𝗮𝘅 𝗗𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻𝘀: Donate to approved charities, reduce tax burden. 𝟮. 𝗘𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲𝘀 𝗚𝗶𝘃𝗶𝗻𝗴: Inspire generosity, create positive change. 𝟯. 𝗦𝘂𝗽𝗽𝗼𝗿𝘁𝘀 𝗖𝗮𝘂𝘀𝗲𝘀: Help education, healthcare, environment. 𝟰. 𝗧𝗿𝘂𝘀𝘁𝘄𝗼𝗿𝘁𝗵𝘆 𝗚𝗶𝘃𝗶𝗻𝗴: Ensure funds used responsibly by regulated charities. 𝟱. 𝗦𝗺𝗮𝗿𝘁 𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀: Plan donations, optimize tax savings. 👉 Website: https://countax.in/ 👉 Follow us: Countax Consultants India Private Limited #80G #TaxExemption #CharitableGiving #NGORegistration #DonationReceipt #TaxBenefits #Philanthropy #SocialImpact #NonprofitOrganization #TaxDeductible

Can you avoid paying additional income tax by donating money to charity, especially if? Parizad Sirwalla of KPMG India answers some last-minute tax planning queries on this latest edition of #LetsTalkMoney Tune in here: https://lnkd.in/gcTquFbA #incometax #charity #donation #taxes #money #finance #personalfinance #cnbctv18digital Surabhi Upadhyay

The 80g deduction under the Indian Income Tax Act permits citizens to profit from tax cuts on donations made to indicated altruistic associations. donation to such associations can fit the bill for derivations of 100 percent or half of the given sum from the giver's available pay, likely as far as possible and conditions. Appropriate documentation, including donation receipts and affirmations from the beneficiary association, is fundamental for guaranteeing allowances. Benefiting an 80g allowance lessens charge liabilities as well as advances magnanimity by boosting commitments towards admirable missions, cultivating cultural government assistance and individual monetary preparation. #section80g #12aregistration #80gdonation #80gdeduction https://lnkd.in/gYRhBPSh

Does entry Fee collected from pilgrims/visitors/devotees for special darshan is liable to GST? The Rajasthan AAR HELD as follows- 1. Notification No. 12/2017-CT(Rate) exempts services provided by Section 12AA registered entities for charitable activities from GST 2. The entry fee qualifies as an exempt charitable activity because it promotes religious advancement 3. The entry fee is a supply of service under the GST Act because it is provided in the course of furthering the trust's business. 4. However, the service qualifies for exemption under Notification No. 12/2017-CT(Rate) because the trust is registered under Section 12AA and promotes religious advancement, which is a charitable activity. The entry fee collected by the applicant is not taxable under the GST Act

Madhuresh & Associates Attention all NGOs and charitable organizations! Are you aware of the conditions to claim exemption under Section 12A and 80G of the Income Tax Act? Understanding these provisions is crucial for maintaining your tax-exempt status and maximizing your impact. Call us at Madhuresh & Associates Contact: +91- 9650946707 & +91- 9690198901 Gmail : hellomadhureshassociates@gmail.com, Website :https://lnkd.in/d5zYpkvB Under Section 12A, NGOs and charitable organizations need to fulfill certain criteria to claim exemption. This includes registration with the Income Tax Department and ensuring that income is applied towards charitable purposes only. Similarly, under Section 80G, donors can avail tax benefits for contributions made to eligible NGOs. To qualify, NGOs must meet specific criteria and obtain approval from the Income Tax Department. Ensuring compliance with these provisions not only benefits your organization but also encourages donors to support your cause. Stay informed and make a difference! #TaxExemption #NGO #Charity #incometaxact