What is the donation tax exemption?

 For any taxpayer looking to save tax, you have landed yourself on the right article. Section 80G enables donation tax exemptions for all taxpayers – individuals, companies, and/or partnership firms. Also applicable to NRIs, donation tax exemption makes it a highly engaging investment option, where the Indian Government offers Section 80G donation tax rebate as an incentive for donation/contribution. Under the Income Tax Act of 1961, Section 80G can be availed through a contribution/donation to relief funds and charitable institutions.

For one’s own knowledge and information, Section 80G of Income Tax laws is not just limited to donations made to charities, one can also avail a rebate on donations made to entities involved in scientific research and rural development programmes. Since there is a benefit for NRIs too while making a donation, they have become more open-minded and are willing to donate to various causes and charities.

Taxpayers can claim income tax deductions under section 80G only if their donation is made through cheque, draft or cash. While one can contribute any amount to a charity/NGO, the deduction is only available for a cash donation that does not exceed INR 10,000. Donation supplies like food, clothing, medical provisions, etc. are not considered under Section 80G deduction claims. Additionally, to avail of this donation tax exemption, one must present the evidence of payment given by the trust/entity as a substantiation of the donation made. It is also important to ensure that this proof/receipt includes the name, address, PAN card number, registration number of the trust, name of the donor and amount contributed, written in figures and words; these details come in handy while filing taxes. Provisions have also been made by the government of India through which NRIs making a donation can also avail of this benefit as per Section 35AC or 80GG of the Indian Income Tax Act.

Becoming a point of reference for charities world-over, Save the Children has exceptional ethics, transparency and capability to out-do itself with every programme and initiative. It supplicates a significant donation tax reimbursement to its donors, which it does through its well examined and executed programmes that cover numerous cities, towns, and villages across the nation, which brings children out of the circumstantial evil of poverty, bad health, and mistreatment.

Support Save the Children through your time, efforts and donation. 

Also Read: The hunger and malnutrition cycle of India

Comments

Post a Comment

Popular posts from this blog

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 child
Read more

The ‘Beti bachao beti padhao’ campaign

The ‘Beti Bachao, Beti Padhao’ initiative was launched by Prime Minister Modi on January 22, 2015, in Haryana. Translating into ‘Save the Girl Child, Educate the Girl Child’, this program aimed to give young girls access to large-scale welfare services. It was devised to give the girl child access to survival, safety, and education while celebrating the girl child in an effort to fight India’s deep-rooted gender bias towards women. ‘ Beti Bachao Beti Padhao Yojana ’ is India’s most high profile and widespread campaign to empower the girl child. It is a program being run jointly by the Ministry of Women and Child Development, Ministry of Human Resource Development and Ministry of Health and Family Welfare. As per the census data of 2001, the child sex ratio in India (0-6 years) was a mere 927 girls per 1000 boys. This further declined in 2011 to a staggering 918 girls for every 1,000 boys. Addressing and improving this dwindling CSR is one of the principal intentions of this
Read more

Information on Child Labour

Child labour refers to the engagement of a child in any form of work that is harmful to their physical, mental and emotional development. The practice of child labour is a violation of human rights, and can potentially lead to lifelong physical or psychological damage. Children who are employed as child labourers are often forced to drop out of school and discontinue their education. There is a need to create awareness on the issue of child labour and spread information on child labour. Children are extremely vulnerable and are exposed to various risks when they are engaged as child labourers. They are separated from their families, exposed to serious danger and left to fend for themselves. Millions of children around the world are trapped still in child labour. They are deprived of a proper childhood and denied access to adequate health, nutrition, education and sanitation. Child labour is a serious violation of a child’s rights and highly exploitative in nature. Based on t
Read more