Securing financial perks through charitable donations is a noble endeavor that promotes responsible wealth management. Under Section 80G of the Income Tax Act, taxpayers can claim deductions on their income tax returns for contributions made to eligible charities . This provision not only minimizes your tax liability but also directs resources to c

"That will assist you to lower your taxable income," says Ed Slott, a CPA who educates economical advisers on IRA and retirement planning techniques. You can also assert a charitable deduction, assuming it is possible to itemize in the year you donate. Generally, itemizers can deduct twenty% to sixty% of their altered gross income for charitable d