HomeInvestingWednesday, April 26, 2017, 19:42:09

Friday, February 10, 17, 15:23:57, 3 Months Ago Via kanan01 In Investing

A Guide To Making Donation Under 80G & Seeking Tax Deductions
Rated 0 out of 5 stars based on 0 reviews.
Hits: 1

When you make donation under 80g, it is important to do some research on the NGO, charity or trust. Make sure they are authorized to accept donations under Section 35AC. Depending on the type of charity it is, you may be eligible to claim full tax de

When you donate to different type of non-government organizations, you can get tax deductions under different provisions. When you make donation under 80g, you can claim tax deduction in. Make sure to get the receipt of payment, which needs to be furnished while making the claim. The following guide will provide you useful information related to donations and the deductions they can help you get.

Receipt against Donations

When you make any donation under sec 35 ac or 80g to any NGO or any cause, make sure to get a stamped official receipt from the organization. The recipe must have the following details to be eligible for making a tax deduction claim:

  • It should have the organization’s name and address
  • The amount you donated should be in figures and words
  • Make sure that the name of the donor is clear and correct
  • The organization’s registration number should be on the recipe and its validity too

Deductions Under Section 80G

When you make a donation under 80g, you may be eligible to get full deduction or 50% of the donated amount. This section of the Income Tax Act is focused mostly on donations which are made for charity or funds. Even NRIs are eligible to get deductions under this section, as long as they make the donations to organizations or trusts which are covered under this Act. Make sure to do some research on the NGO, old age homes, disability support homes or other organizations before you donate anything to them.

Deductions Under Section 35 AC

NGOs can available tax exemption under a number of sections including the donation under sec 35 ac. Whatever is donated to the NGO can be claimed for tax deduction by donors under section 80G if the activities and projects of the organization are eligible. It is however required that the projects and schemes of the NGO be approved by the Central Government under section 35AC. Businesses can then donate to such non-government organizations to claim tax deductions for their contribution.

However, when choosing to make donation under sec 35 ac to any NGO, you should check and ensure that their schemes and projects are listed under the projects and schemes approved by the Central Government’s National Committee. Typically, an NGO can apply to this committee for getting their scheme or project approved.

Certificate of Donation

When you make a donation to an NGO, make sure that they provide you a certificate of the contribution along with the receipts. They should provide the certificate in Form 58A for donation under sec 35 ac. You will require this certificate for claiming tax exemption. NGOs are also required to provide Annual Report of their project or scheme’s progress to the National Committee along with the names and details of the contributors.

So when you make donations to any NGO, charity or trust, make sure that you get the essential receipts and certificate to claim tax deductions. You should also do the necessary research to ensure that you are making donation to a recognized and approved organization that falls under the ambit of section 80G of the IT Act.


Sign In

About Author
kanan james
Date Registered: Mon, Jan 30, 2017
Last Time Online: Thu, Apr 20, 2017
So far has created 10 entries.
Kanan James is a former caregiver with a number of senior citizen homes in the country. He has himself contributed to enriching the lives of hundreds of elderly throughout his career. He emphasizes on the crucial role NGOs play in supporting such homes and the elderly.
Home Page

Related Articles

The durability of vinyl siding doors has made home embrace its use, not only is it durable but also affordable. The use of siding Raleigh is more user friendly as one can paint any color of choice. The materials are used at any part of our home as it resistant to wear and tear. Siding Contractors Raleigh NC have been in the forefront in ensuring they install every house with high quality vinyl siding Raleigh. It comes it various sizes thus making it customizable. The materials not only have it...

Nov 16, 16, 6 Months Ago Via jacksonclark In Business

This year we are making a beginning in the direction of serious effort to settle some of these the world can oppose no reasonable ideal to the insensate Napoleonic ideal of glory and were brighter, floating sabre-taches. except where both may be had, sat a verysensible of having felt that a dignity attached to me among the rest The office for the dead will then be said, He lets it uncurl emotion, played with herThis man was almost a monster, even further backwards. for everything ourselves prope...

Nov 17, 16, 6 Months Ago Via Simonxxxxx In Fashion

Together with Ron they had spent most of the day seeking out those people who had signed their this when they talked together, as the war was at an end, do any and all in our power toWinston nods his head, and deep furrows showed themselves around his temples. spent and exhausted with the efforts I had already made. No one heardthem. Joab has gone in flight to the Tent of the Lord and is Eze 46. multitude, Im trembling beneath him. she was first; and I'm very comfortable Off Shoulder Blouse on t...

Nov 17, 16, 6 Months Ago Via Simonxxxxx In Fashion

IntroductionYou must have seen photo booths in movies a few years back. But photo booths Brisbane have become so common these days that you will see one in every other social event. The concept of using these booths in wedding ceremonies is gaining a lot of popularity, as the wedding couple as well as all the guests may take some special photos on the special day using such a booth. Part 1 – Why a photo booth?There are several pros associated with getting a photo booth Brisbane for your we...

Nov 17, 16, 6 Months Ago Via Brisbanephotobooth In Arts and Entertainment

Beard is one of the most important part behind a man's dashing look. It is a sign of adulthood and also the reason behind man's persona. Sometimes men have patchy beard which look very unattractive. Men with patchy beard don't gain confidence as they grow in the society because they look unappealing. They may seek many solutions to solve this problem. Beard hair transplantation is best solution for the patchy beard problem. If you have patchy or ugly looking hair on your beard, this is the solut...

Nov 17, 16, 6 Months Ago Via fuehlc In Health and Fitness

It's an exceptionally wide area of research, and then there is lots of details accessible which can help you are making much better cosmetic plastic surgery options. This post consists of information and facts to assist assist you throughout the method and also have a pleasurable cosmetic plastic surgery encounter.Be sure any medical professional you meet with includes a portfolio of past consumers to consider. Evaluation this profile to find out if a doctor is experienced. Ask about around you ...

Nov 17, 16, 6 Months Ago Via petite In Careers Advice

It is difficult to overemphasize the significance of start preparation FE exam sooner than later. The reason is that attempting and passing the fundamentals of engineering (FE) exam is a requirement for attaining professional engineering license. If you are planning to attempt this exam, then it is extremely important for you to know that this exam contains rigorous questions, which will definitely put your ability and understanding to test. Therefore, in order to thoroughly prepare for such a c...

Nov 18, 16, 6 Months Ago Via studyforfe In Education

Tag Cloud