As per the revised Income Tax Exemption Act, effective on April 1, 2017, donations above Rs. 500 to an NGO will be eligible for a 50% tax exemption under Section 80G of the Income Tax Act. Also, by donating to the Together We Can Foundation, you will pay your contribution towards various activities of our NGO, leading to the welfare of the whole community.
The exemption is calculated by reducing the donated amount from your taxable salary, and your tax will now be calculated on this new amount based on ongoing tax rates.
For instance, if your taxable annual income is Rs 100,000 and you make a donation of Rs 5,000, then your net annual income will become Rs 97,500.