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1. When I make a charitable contribution on CareWell, is that contribution tax-deductible? 2. I want my giving to be deductible for this tax year. Do I need to make a donation by a certain time? 3. Do I need to itemize my tax return to get a deduction for charitable giving? 4. How much can I legally deduct on my taxes for charitable contributions? 5. I want to donate as much as I can this year. How can I do that, taking my own needs and expenses into consideration? 6. I've heard that some donations aren't fully tax-deductible, even if they're to an income tax department recognized charity. Is that true? 7. When I donate, will I get a receipt? 1. When I make a charitable contribution to CareWell, is that contribution tax-deductible? Absolutely! Donations to CareWell qualifies for non-profit status from the income tax department — and that means every donation you give counts as a tax-deductible donation. It's one of the ways CareWell makes giving easier and smarter for you. 2. I want my giving to be deductible for this tax year. Do I need to make a donation by a certain time? Yes. Any donation you make on or by December 31 will qualify as a deduction for the corresponding year. So if you're looking for a tax benefit for this year, you'll want to make that donation soon. The good news is that you can donate on CareWell any day of the week, 24 hours a day. So it's easy to get in that last-minute donation. 3. Do I need to itemize my tax return to get a deduction for charitable giving? Yes, you do. Donations are only tax-deductible if you itemize deductions on your tax return. When you file your taxes, you'll need to itemize your donations on the income tax return form. 4. How much can I legally deduct on my taxes for charitable contributions? You can only deduct the amount of a contribution given voluntarily, with no expectation of a commensurate return. Generally speaking, you may deduct up to 50% of your aggregate gross income — half of your total income, subject to income phase-outs. There are some specific types of donations (such as gifts of stock, or donations to certain types of organizations) that have lower percentage ceilings. The income tax department has a worksheet to help you determine how many of your donations are tax-deductible. 5. I want to donate as much as I can this year. How can I do that, taking my own needs and expenses into consideration? This would be a wonderful time to sit down with your own tax or financial advisor — he or she can help you decide how much you can give this year. 6. I've heard that some donations aren't fully tax-deductible, even if they're to an income tax department recognized charity. Is that true? Some contributions can be tax-deductible for less than the donated amount if the charity provides you with something of substantive value in return. At CareWell, we streamline the giving process so that 100% of your donation is tax-deductible — no worries about what's deductible and what's not. 7. When I donate, will I get a receipt? When you donate through CareWell, you will always receive a confirmation e-mail, which will serve as your receipt. You should always keep a hard copy of your receipt for your tax records. Getting Started When you file your taxes, you will need to itemize your donations. You can download this form and the instructions for how to fill it out from the income tax department web site. Your charitable giving will help so many — and work to your advantage as well. We hope that you'll consider a donation this year, and let CareWell make it easier to reap the benefits at tax time.
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Registered under Foreign Contribution Regulations and 80G of Income Tax
