The Importance of Transparency in 80g Deductions

Transparency in 80g deduction is important to promote confidence and accountability in charitable contribution in India. Section 80g of the Income Tax Act allows taxpayers to cut the eligible charitable corporations for donations made, selling philanthropy. However the ability to misuse is exist, from which transparency is important. A clear interaction about the financial, governance and influence of a company ensures that donors make knowledgeable decisions, increase their self assurance. In addition, transparency regulatory bodies enable screen compliance, reduce fraud claims. Organizations that affect their operations and results no longer increase their credibility, but in addition to that motivate more people to make a contribution which enhance the overall impact of philanthropy on society. Ultimately, 80g deduction has a better and accountable charitable environment than transparent practices.