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The Adjusted Income Tax Act, commonly known as the AITA, is a tax law that was enacted in 2020 and is designed to simplify the taxation of individuals. It makes considerable changes to existing tax law by eliminating various tax credits and deductions and introducing new ones. The aim of this act is to make the system more equitable by reducing taxes for those who earn less than certain income thresholds while increasing taxes for those with higher incomes. The AITA seeks to streamline the filing process by allowing taxpayers to calculate their own adjusted gross income based on their total income from all sources minus any qualifying deductions or credits. This allows individuals to file their returns without having to calculate complicated tax formulas. Additionally, it encourages charitable giving by providing incentives for donations made toward qualified organizations. Our consultancy firm arrangement in 80g enrollment. Website - https://www.80g.co/
