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Identify a good cause such as education or healthcare and donate,” says Kiran Telang. Some donations such as contributions to Prime Minister’s National Relief Fund and National Defence Fund fetch you income tax benefit under section 80G of Income Tax Act. The donations specified in section 80G are eligible for deduction up to either 100% or 50%.In this festive season you should also start saving for the festive season next year, if you have not been saving already.

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