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Tax Deductions for Volunteer Work in India
Donating your time to a charitable cause doesn’t bring the same tax benefits as a cash contribution would,but it will give you self-satisfaction and happiness. However, expenses related to volunteer work in India may be deductible if you list your deductions on your taxes.
Donate Time is not Money: Whatever the time you will spend on a volunteer work is not deductible, even you are working for a charitable organization. You can ask for money to your clients as per your bill, but you can’t effectively charge the tax department for similar work while you are working as volunteers.
Track Expenses: While your time aren’t deductible, you can deduct expenses related to your volunteer work in India. If you’re hosting a charitable fundraiser, you can claim an amount equal to the costs you incurred to put it on.
Travel Expenses: As per my personal experiences, some travel expenses for volunteer work are deductible, but you cannot get a similar deduction that business travel earns.
At Coaching: if you have selected yourself a coach for a particular sport, then your deduction Ruel will be same as other volunteer activities, however you can show cost for petrol or gas you have spent on travelling to holiday tournament in your car will be a better option than above.
For any volunteer expenses to be deductible, they have to be for a qualified charity recognized by the tax department of India.
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