Page 3 - Donations

ITR filing: Select donations qualify for tax benefits, say analysts

Donors need to select the appropriate mode while making donations under these two sections

CBDT extends I-T deductions on donations made to Patanjali research trust

In a shot in the arm for yoga guru Ramdev-run Patanjali group, the Income Tax Department has extended tax deductions on donations made to Patanjali Research Foundation Trust for five years.

NITI moots 100% I-T exemption for donations to not-for-profit hospitals

Government think tank Niti Aayog has suggested 100 per cent income tax exemption for donations and provision of working capital loans with lower interest rates for not-for-profit hospitals to strengthen healthcare services in India. In a report titled 'Not-for-Profit Hospital Model in India', the Aayog also pitched for involving high performing hospitals in public private partnership (PPP) models for managing primary health care (PHCs), operations of government facilities and PSU hospitals. "Income-tax exemption could be increased from the current 50 per cent exemption to 100 per cent exemption for philanthropy toward the identified not-for-profit hospitals. This could be a catalyst in channelizing the much-needed funds to deserving hospitals." it said. According to the report, the government can consider the provision of working capital loans with lower interest rates, which would be more financially viable for not-for-profit hospitals and would assist in adequate cash flows durin

Indian nonprofits focusing on Covid aid receive grant from MacKenzie Scott

Billionaire Scott gives away $2.7 bn to 286 companies globally

Haryana first state to reimburse GST on Covid-related donations

Reimbursement will be available only in cases where Covid-19 related material is donated free of cost to the government of Haryana, state-run hospitals, or any hospitals or institutions

Private philanthropy outstripped corporate largesse by 42% in FY20: Report

It is this increase that has propelled an increase in total private funding by a healthy 23 per cent, touching Rs 64,000 crore in FY20

Ram temple Trust applies for permission to accept foreign donations

Devotees from foreign countries have started sending donations for the Ram temple to the Trust, its office in-charge Prakash Gupta said

PM Modi's donations from his savings, gift auction exceed Rs 103 cr: Report

PM Modi's donations to a number of public causes, ranging from girl child education to the cleaning of Ganga, from his savings and the proceeds of auctions of the gifts he received exceed Rs 103 crore

Rs 20,000 hotel bill, Rs 50,000 insurance premium may come under I-T lens

In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency

Govt announces norms for contributions by individuals, institutions to NDRF

These contributions have been allowed as per Section 46(1)(b) of the Disaster Management Act, 2005

Lakshmi Mittal gifts GBP 3.5 mn to Oxford for developing Covid-19 vaccine

Lakshmi Mittal said, "This year has been a wake-up call to the world to be better prepared for pandemics, which, as we have all experienced, can cause massive social and economic disruption."

30 days into coronavirus lockdown: Impact on digital payment transactions

As citizens came forward to help those affected by the lockdown, online donations towards NGOs increased by 180 per cent. Sectors such as utilities, media and entertainment witnessed growth.

Fighting Covid-19: Donations to CM fund won't qualify as CSR, says MCA

Ex-gratia payments to workers will be treated as CSR, provided these are over and above wages

Khattar govt coercing state employees to donate to Covis-19 fund: Surjewala

He alleged that heads of various departments are putting pressure on their employees that they should contribute 10-20 per cent of their monthly salary towards Haryana Coronavirus Relief Fund

If you give money for a good cause, I-T Act offers you tax benefits

Section 80G deduction can be availed of by a person who makes an eligible donation, but conditions apply

Got Rs 356 cr in donations from Tata trust in 2018-19: BJP tells EC

India's richest trust -- The Prudent Electoral Trust -- gave Rs 54.25 crore in donations to the party, according to the documents

India ranks low on World Giving Index despite informal culture of donations

The report, published online in October 2019, was based on surveys of 1.3 million people in 128 countries over the last 9 years (2009-2018)

Clampdown on foreign funding makes local donations crucial for Indian NGOs

Monthly donations from individual citizens, ranging between Rs 350 and Rs 500, have mainly kept it going through the recent crises

Swachh Bharat: PSUs made a third of total donations to Modi's pet project

Indian Railways and its various subsidiaries oaid almost Rs 35 crore between 2014 and 2016 to Clean India fund