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Monday, September 26, 2022

Everything You Need to Know About Section 80g

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Are you looking for a tax deduction to help reduce your taxable income? If so, you’re in luck! The deduction available through Section 80G of the Income Tax Act is an excellent option. Here is the essential information about this 80g deduction and how it works. Here are also discussions about the eligibility criteria for this deduction and the limit on the amount deducted each year. So read on to learn more about this valuable tax deduction!

Tax Exemption Under Section 80G of the Income Tax Act

If you’re investing in property and looking to take advantage of the tax exemption under Section 80G of the Income Tax Act, you must be aware of the eligibility requirements. This includes properties for investment purposes and long-term capital gains and losses (up to a maximum limit). Holders of exempt properties must use the proceeds from the sale exclusively for business or agricultural activities. To qualify, the property must be held for more than one year. Additionally, the property must be used for investment, not for personal use or consumption. Please speak to a tax advisor if you have any questions or doubts about whether your property qualifies for exemption.

Calculation Of Deduction Under Section 80G Of Income Tax Act

Investing in property can be a great way to make your money work harder. However, knowing the ins and outs of section 80G of the Income Tax Act is important before you make your investment. This deduction allows you to claim expenditure on approved properties located in India. These expenses include mortgage interest, property taxes, maintenance and repair costs, etc. The conditions that need to be fulfilled to claim the deduction are listed under section 80G of the Income Tax Act. When making the investment, you can claim the deduction if you’re an individual or partnership resident in India. However, you can only claim this deduction if you’re investing for your personal use and not for the benefit of any other person.

Donations Eligible For 100% Deduction Subject To 10% Of Adjusted Gross Total Income

Making donations to a charitable organisation is a great way to help others and reduce your taxable income. Donations that qualify for the Section 80G tax deduction must be made in connection with a qualifying cause or organisation. A section 80G tax deduction allows you to subtract charitable contributions from your taxable income. This deduction is based on the amount of the donation, as well as your Adjusted Gross Tax Total Income. So if you’re in the 25% tax bracket, you can deduct 25% of the total donation amount, up to a maximum deduction of $250. If you’re in the 10% tax bracket, you can deduct 10% of the total donation amount, up to a maximum deduction of $200. Lastly, if you’re in the 0% tax bracket, you can deduct the full $250 donation amount. Make sure you are aware of the donation limit before making a donation so you don’t miss out on any tax savings!


Are you looking to save on your tax payments this year? If so, then you’ll want to read our blog post on the subject! In it, we discuss the different tax exemption that is available under section 80g of the income tax act – ranging from donations to income from self-employment. We also provide a detailed guide on how to calculate the deduction under section 80g of the income tax act, allowing you to take full advantage of this tax exemption. So, if you’re looking to save on your tax bills this year, make sure to read these and get started!

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