Giving back to your community is a rewarding experience, and it's a smart financial move. By making charitable donations, you can reduce your tax liability. Consider Latest updates donating to qualified organizations like charities, religious groups, or educational institutions. These contributions are often tax-deductible, allowing you to reduce m
Quantum of Deduction: The companies can claim one hundred% of donations paid to political functions or electoral trust is authorized as deduction u/s 80GGC Any establishment or Fund established in India for charitable applications satisfying prescribed conditions u/s 80G(five) Company ABC is a fabric company that generates several different types
frequently, contributions of prolonged-expression funds gain (LTCG) home will lead to a deduction equivalent towards the good market value of the assets, topic into a thirty% of AGI limitation. This rule hasn't been influenced via the Tax Cuts and Jobs Act (TCJA). LTCG assets is outlined as assets that may create an extended-time period money acqui