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Tax exemption for Indian Charities / NGOs


Intersting piece for charities in India


 


Donations for charitable purposes attract tax benefits. If you give to a charitable organisation, not only is your donation exempt from Income Tax in the hands of the organisation, but you can earn a tax deduction too.  For this, the organisation must be certified under 80-G or have projects approved under various sections of the regulations which offer tax benefits to donors.


 


Your donations to organisations that have the following tax exemption certifications are eligible for tax benefits :




  • 80 G: 50% of your donation can be set off against from your taxable income.



  • 35AC : 100% deduction can be claimed for donation for certain projects approved under this section.



  • 35(1)(iii) : NGOs engaged in research in social sciences can be approved for tax exemption under this section. People who have business or professional income can claim 125% deduction of their donation and others can claim 100%.  This deduction will be withdrawn after 31 March 2005.



  • 35CCB : NGOs engaged in conservation of natural resources and aforestation are given approval under this. 100% deduction may be claimed by donors.


  If u find this intersting send it to the charities/NGO u know.


 


Lal


 

Posted on : Wednesday, September 17, 2008 10:12 AM
Add reply       No of replies : 2

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I wish to donate to the poor people out there ( I know there are a lot out there) who cannot afford to pay their marriage expenses? I already donate a little bit here and there to other foundations advancing cancer, education, eye hospitals etc but this is something I though people rarely do?


All I care is it is genuinely legal and a good organization - ofcourse these donations should be tax exempt in USA - can someone pl. suggest any such organizations?


thanks

Replied on Friday, December 5, 2008 2:05 PM
 


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