what is 80g explain

80g, additionally referred to as Section 80g of the Income Tax Act, is a tax exemption provision in India that allows people and businesses to make a deduction from their taxable income for donations made to certain charitable institutions and sports. The section becomes delivered to sell philanthropy and social welfare using providing a tax incentive for individuals and businesses to support charitable reasons. Under Section 80g donors can declare a deduction of up to 50% or 100% of their donations made to eligible charitable institutions, together with ngos, hospitals, academic institutions and catastrophe comfort funds. The deductions are the problem with positive conditions and bounds and the donors need to obtain certificates from the recipient organization pointing out the quantity donated and its usage. By claiming a deduction beneath Section 80g people and companies can reduce their taxable profits and decrease their tax legal responsibility.