Section 80G tax exemptions

Tax exemption refers to transactions or incomes which are free from tax at the federal, state, or local level. Tax-free items may be reported and shown only for informative purposes on a taxpayer’s individual or corporate tax return. The tax-exempt item is not taken into account when calculating taxes.

The term “tax-exempt” can also refer to a status that places restrictions on the amount of income or contributions that are taxable for a company or organization. Religious and benevolent institutions are among these organizations.

Donating money to an NGO like Samvedna benefits not just the poor but also the donors in a number of ways. Tax relief is one of them. If you donate money to an NGO like Samvena, you can receive tax benefits, because our NGO is registered under Section 12A of the Income Tax Act and qualifies for Section 80G tax exemptions. Donors should be aware that under Section 80G, religious institutions or trusts are not eligible for a tax exemption. They must be registered under Section 25 of the Companies Act of 1956 or the Societies Registration Act of 1860. If an organization is not requesting funding for humanitarian causes, it is prohibited for its aims to mention its assets or spending income.