Don’t miss out on donation tax exemption.
Donating to charity is a generous act. It is an admirable thing to financially support a cause that one believes in and to do your bit for society. In order to encourage these noble gestures, the government has also extended its support towards charitable services. The section 80G of the Indian Income Tax Act allows a provision for tax deductions made on donations to any charitable organization. This ensures that generous donors can avail donation tax exemption.
Since 2008, Save the Children has positively enriched the lives of millions of children in India. Through our consistent efforts, we have successfully provided underprivileged children with access to education, healthcare and protection from harm. Save the Children runs around 75 projects across 19 states in India.
We are grateful for the financial support provided by our donors, and run on the donations we receive from them. These donations go a long way towards positively impacting the lives of vulnerable children.
The Income Tax Act (1961) offers up to 100% tax exemption for donations to registered NGOs. In order to claim this tax exemption, the donor must cite it when filling annual income tax returns.
The donation tax deduction limit under Section 80G of Income Tax Act is either 50% or 100%. It depends upon the charitable organizations to which the amount is donated. After your contribution has been received, you will get a tax certificate which should be attached to your income tax application form.
Given below are a list of the documents needed to claim donation tax exemption:
- A stamped Receipt – A receipt with the name, address and PAN of the trust, along with the name of the donor and the amount donated is required.
- A photocopy of the 80-G Certificate – Make sure that a photocopy of the 80-G certificate is also attached to the receipt.
- The registration number of the trust – It is important that the receipt enclosed also includes the valid registration number of the trust, as well as the dates of validity stated.
There are millions of children in India who are deprived of basic necessities such as healthcare, education, adequate nutrition and proper shelter. With just a small contribution, you can help transform the life of a marginalized child. Donating for such a noble cause is bound to give you a great deal of inner satisfaction. NGOs in India are doing amazing work to help children and their communities come out from poverty. By donating to their initiatives and programs, you can put your money to good use by improving the lives of people who are less privileged. You can also avail donation tax exemption as a bonus.
All the donations received by Save the Children are utilized to create a better world for vulnerable children in need. We are immensely thankful to our thousands of donors who are dedicated to improving the lives of impoverished children.
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