Go dhanam means gifting of a cow. As per the principles of Hinduism, Go dhanam would be usually done to a Brahmin, temples, mutts and tothe cow shelters. Go dhanam is mainly performed in order to get rid from the evil effects of the Pitrudosha.
And by doing this holy act, we can attain goodness in our life.In the ancient days, there was a custom of donating a cow to someone else because of this reason.
By donating a cow to someone in need, they would be able to feed and sustain themselves and their family.
In those days, the greatest wealth a person could have was a cow. Do you l know why? It is because by donating a cow, you were helping the person to feed himself and also helping him to make a living. So in those days, having one or more cows was a huge source of support for Life. This is why so much importance has been given to Go- daan in our culture.