Bet you didn’t know – Donations Made to the Center are Tax Deductible!

Bet you didn't know – Donations Made to the Center are Tax Deductible!

It’s February – the time of the year everyone is busy rushing to pay their premiums with the aim of saving taxes. The Indian financial year ends in March and before its termination, people have to get all their paperwork in order. As everyone rushes to their favourite person of the moment – The Chartered Accountant, the nukkad CA probably feels overwhelmed with all the attention. Or does he?

Here’s a thought relevant to the situation of the moment – every donation made to the Spastics Centre, Kanpur is Tax Deductible under section 80G of the Income Tax Law. Allow us to share an extract from the Indian Income Tax rules for the purpose:

80G

Donations to certain funds,charitable institutions etc.

The various donations specified in Sec.80G are eligible for deduction upto either 100% or 50% with or without restriction as provided in Sec 80G

So, every time you play with the option of perhaps helping a child who has special needs, think about the double benefit you will have. A tax deduction on helping someone – doesn't seem such a bad idea now does it?

P.S