MAXIMIZING YOUR IMPACT: CHARITABLE DONATIONS UNDER SECTION 80G

When considering charitable contributions, understanding the tax benefits offered under Section 80G can significantly affect your decision-making process. This section of the Income Tax Act provides deductions for donations made to eligible organizations, thereby amplifying the financial impact of your generosity. By carefully selecting recipients

And The problem of restricted funds provides one of a kind bookkeeping and accounting problems for the nonprofit that a for-revenue company doesn’t confront. Accounting for donations is effective similar to any other transaction. While you might be donating and not generating a revenue, you continue to ought to understand how to debit and credit