Save Income Tax: Donations

India is a developing country and also people in India are religious. so many people do donations to temple trust or schools, colleges, hospitals. Now if you donate to some organization, you can get total value of the donated amount/items(non cash) is tax-deductible. Yes this is applicable to both cash and non cash donations. suppose you donate 5-10 computers in some school of your village or town then you can get tax deduction on it. Next time you donate something remember to take advatage of tax benefit. Of course, you would need to furnish written receipts for all the donated items/cash.

1 comment:

Anonymous said...

hi,
I hve donated money to build a temple and the temple has been built already.Can I consider this for tax deduction?

thank you