Exemption under section 80G of the Income Tax Act, 1961
Exemption under section 80G of the Income Tax Act, 1961
Section 80G of the Act of 1961 provide tax relief to the Citizens of India on the amounts donated as contributions to Approved Charitable Organizations.
The new financial year has just started. All the Salaried employees among us would be busy submitting investment declarations or proposed investments to their respective employers to avail tax exemptions.
12A. 3[ Conditions as to registration of trusts, etc. The provisions of section 11 and section 12 shall not apply in relation to the income of any trust or institution unless the following conditions are fulfilled, namely:-
35 ac approval helps the nonprofit ngo organisation, to encourage their donors towards fundraising for their specific approved social welfare projects and ngo issues donation certificate for tax exemption.
NGOs are difficult to define and classify, and the term 'NGO' is not used consistently. As a result, there are many different classifications in use. The most common use a framework that includes orientation and level of operation. An NGO's orientation refers to the type of activities it takes on. These activities might include human rights, environmental, or development work.