Thursday, 3 April 2014

Redeem your deductions for a noble cause- through online donation to charity

As we approach the end of a fiscal year, our prime issues revolve around those large income tax deductions that go from our salary. But we never think of ways to tackle this issue. However, by making an online donation to charity, we can direct funds for good use and achieve a higher satisfaction. We need not step out of our office or residence to make a donation to NGO. We can make one just by a click.

Why should we make an online donation to charity? Many of the NGOs in India are registered under section 35AC of the Income Tax Act, 1961. This enables donors to avail for 100 per cent tax exemption on the amount that they donate to NGOs. And what better way than to save your income tax deductions for children? Of the 400 million children residing in India, every second child is malnourished according to facts recorded by Child Rights and You (CRY). About 47 out of 1000 newly born children die before their first birthday. The same source has also recorded that the Maternal Mortality Rate in India is still an alarming number.

One of the best ways to contribute towards tackling this issue is to support those NGOs who work to uplift the economically disadvantaged sections of our society. A single online donation to NGO that works for underserved children will make a world of difference to an entire family. There are various ways in which we can make online donation to charity. Apart from directly donating funds, we can channel our contributions through events organised to raise funds.

When you make an online donation to NGO, you are directing your taxable amount to a cause close to your heart. If you claim this on your tax deduction, you feel like a responsible person. When we see homeless kids on the street, we always feel for them and talk about how we want to do something to uplift their lives. Oftentimes, not many of us get the opportunity to enter the system that runs the country and make these alterations for the benefit of the poor. One way to support the progress of the society is making monetary contributions to NGOs.

Various NGOs like The Akshaya Patra Foundation work for children. The government has made certain amendments in favour of both— underprivileged children and the public. The NGOs registered under section 35AC of the Income Tax Act are entitled to grant their donors, income tax deductions under section 80G of the Act. The Akshaya Patra Foundation also provides tax exemption certificates to its donors. These certificates can be produced to get tax returns. Thus, by saving on your income tax deductions for children, you can achieve your dreams while building those of an underserved child.

Follow us: @AkshayaPatra on Twitter | TheAkshayapatraFoundation on Facebook


Post a Comment