Donation Tax Exemption - Under Section 80G.
Save
the Children is one of India’s most trusted NGOs, advocating for the rights of
children since 2008.Over the years, they have positively transformed the lives
of over 10 million children in India. This organisation is able to carry out
its social operations thanks to the generous support of its various donors,
corporate partners,government bodies and institutional supporters. NGOs are
often able to carry out their social work activities due to the donation they
receive from people. Donations made to NGOs are eligible for donation tax
exemption.These donations are crucial to NGOs as they allow them to carry out
their social outreach programmes.
The Income Tax Act of 1961 creates a
provision for tax benefits, on the donations made to charitable organisations
under Section 80 (G).In order to claim this tax rebate, the donation must be
cited at the time of filing the annual Income Tax Return. It must be noted that
100% tax exemption on donations can only be made on donations upto a certain
sum. This donation tax exemption is an incentive offered by the government to
donors as a way of encouraging people to make charitable donations. This helps
NGOs in fundraising, and thereby enables them to create a positive impact on
society. However only monetary donations are eligible for donation tax
exemption; donations made in the form of clothes,books,food, medicines etc are
not eligible for donation tax exemption. There are several tax benefits of
making a donation online. Donating online is also one of the easiest and most
secure ways of making a donation to charity.
The transactions are executed
instantly, and the money is received by the NGO directly.When you donate to an
NGO like Save the Children, you also receive a certificate as proof of your
donation via email. This certificate can be cited at the time of filing for
income tax returns in order to avail tax exemption on your donation. These selfless acts of charity are extremely
valuable to the poor and needy. Save the Children is extremely transparent with
the donations it receives and understands your desire of wanting to give back
to society. Save the Children is supported by thousands of donors that support
its endeavours. Your charitable donations can go a long way towards improving
the lives of millions of disadvantaged children. Save the Children works
tirelessly to provide millions of underprivileged children access to proper
healthcare,nutrition and education. NGOs work extremely hard to protect
vulnerable children and ensure that their basic fundamental rights are upheld.
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