I have been donation for one organisation quite a few time. They are running schools for the underpriviledged and doing many good things.
As I have paid them some amount I thought of taking some tax deduction.
But if i ask the income tax certificate from the organisation the below reply i got from the organisation.
Is this true? Pls enlighten me
I T CERTIFICATE RENEWAL FROM 1 4 2012 FOR DONATIONS TOSIVANANDA ASHRAM
My Dear Sir/Madam,
Greetings from Sivananda family,
I thank you very much for your mail and noted the contents there in.
As regards to the I T certificate the Ministry Government of India have given a noticification as to the practice of renewal of Income tax exemption certificate is dispensed for the organizations who are listed with them and donations to our organizations are exempted from 1 4 2012 onwards as per the reference given in the receipts issued apart from the number given which is clearly mentioned. With the details given in our original receipts at the bottom you can claim the exemptions. In case if you have any doubts please mail us to firstname.lastname@example.org for any clarifications
3 replies on this article “80 g DEDUCTION”
You need to find how much of your contribution you can claim. With pictures and example we have explained in our article Fill Excel ITR1: 80G, Exempt Income,Calculation of Tax 80G . Some info about 80G is given below :
If you have you donated money for charity, social or philanthropic purposes, or, have made contributions reduce your tax outgo by using tax benefits under Section 80Gof Income Tax Act.
In section 80G how much amount can one claim depends on the institution to which one donates.
80GA : Donations entitled for 100% deduction without qualifying limit such as National defense fund , Prime minister relief fund etc.
80GB : Donations entitled for 50% deduction without qualifying limit such as National Children’s Fund,Indira Gandhi Memorial Trust
80GC : Donations entitled for 100% deduction subject to qualifying limit
80GD : Donations entitled for 50% deduction subject to qualifying limit
Some features of Section 80G are :
Only donations in cash or cheque are eligible for the tax deduction.
All donations are not eligible for tax benefits. Tax benefits can be claimed only on specific donations i.e. those made to prescribed funds and institutions.
For claiming deduction under Section 80G, a receipt issued by the recipient trust,called as donee, is a must. The receipt must contain the name , address & PAN of the Trust, the name of the donor, the amount donated .
In case of donation which are eligible for 100% deduction recipient should also insist on Form 58 from trust.
In case of certain funds or institutions, donations above 10% of your Adjusted Gross Total Income (GTI) are allowed for deduction only upto 10% of your adjusted GTI.
Dear Vignesh, the PAN of organization & receipt number is all you required.
you don’t need tax certificate. you just need receipt and their PAN no for IT filing.