Donating for Tax Exemption- Akshaya Patra

DIS CUS S IO N RO O M
Donating For Tax Exemption – Will It Help
The Society?
b y
T H E A K SH AYA PAT RA F O UN D AT ION 2 C O MME N T S
o n MA RC H 7 , 2 0 1 8 1 3 2 1 V IE WS
FA CEBO O K
Hunger, malnutrition, poverty, illiteracy, unemployment,
child labour, homelessness, water scarcity, climate change,
pollution, a threat to marine ecology, animal rights, natural
disaster, and the list go on. These and more such issues are
being battled nationally and globally by almost every nation.
Hence, not just governmental intervention, but it requires the
involvement of all – communities, corporates, and individual
citizens for a society to thrive coherently. Undoubtedly, the
government is responsible for the growth and development of
the country and its citizens. But, it is also our responsibility to
do our bit in countering various socio-environmental issues.
And, one of the effective ways is to get involved with a Non-
Governmental Organisation (NGO). Yes, NGOs are legally
formed active groups working towards various issues in a
focussed and strategized manner, and most importantly, for
the sustainability of the society from the grass root level.
Though independent of any government management and
ownership, NGOs play a significant role in creating a synergy
between all the sectors and communities of the society
towards fighting for a cause.
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Your involvement with an NGO gives you the opportunity to
contribute constructively towards the betterment of the
society. Comprehending the potential of NGOs, the
Government of India introduced Section 80G as tax
exemption in India to encourage people to donate towards
charitable trusts by providing income tax relief. Under Section
80G of the Income Tax Act, the amount donated towards an
NGO is allowed to be claimed as a deduction at the time of
filing income tax return, provided the charitable trust or relief
fund you have donated to is registered to offer you exemptions
from taxes. The assessee can either claim income tax
exemption 50% of the amount donated as a deduction
depending upon the criterions set by the Income Tax Act.
Over the years, there has been a visible change in the number
of individuals who donate towards charity. According to the
World Giving Index 2016, about 203 million Indians donated
money during 2015 as opposed to 183 million in 2014.
Simultaneously, there has also been an increase in the
awareness of various issues. In addition, the government is
also taking steps to ensure transparency and accountability of
the funds received by the NGOs, thereby furthering the
confidence of donors on charitable trusts.
Financial contributions play a crucial role in the operations of
an NGO. And that’s why NGOs respect every penny of your
donation and maximise its potential towards achieving their
goals pertaining to their respective causes. For example, if you
donate towards PETA, you are ensuring animal rights; if you
are donating towards Save Green, you are helping to increase
green cover and the like. Similarly, when you donate to
Akshaya Patra, you are contributing towards school lunch for
children in government and government-aided schools. This
means while you are supporting a cause you are also saving
tax under 80G deduction.
As they say, ‘change does not happen overnight’, it takes a lot
of perseverance, commitment, and dedication. Hence, only
with a continuous concerted effort from all of us can bring
about the change we want to see. For example: when you
donate towards the Mid-Day Meal Programme, you are
supporting children to continue schooling by countering
hunger. This will create a nourished and educated generation
who will be assets for their families in particular and the
nation in general. So, while you support the healthy
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development of children, you are also receiving income tax
exemption.
Well then, wouldn’t it be a good idea to invest in a noble cause
while you also save tax? Go ahead, be the change-maker.
THE A K SHAYA PATR A F O U N DATIO N
2 COMMENTS
PRASANTH R NAIR
M AR CH 15, 2 018 AT 7 : 54 AM
Very well narrated… A very informative
thread for any citizen who falls into the
mighty jaws of taxation system & finds it
difficult to understand how to save tax
upto 100 percent slab by the IT act.
When its also supporting a noble cause
such as this, it sweeter.
I’m sure not much people know about
the way NGO donations works in favour
of the cause and at the same time favours
their own savings..
SUSHAMA AGARWAL
M AR CH 16 , 2 018 AT 12 : 37 P M
Truly informative!!
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