Friday, 6 March 2015

Tax exemptions for donating to NGO for children

What could be better than offering aid to NGO for children and receiving tax exemptions too. It means charity and personal benefit at the same time. There are many children charitable organisations in India working towards a gamut of issues pertaining to children safety, health, education, empowerment and the like. These NGO for children do receive Government support but they depend considerably upon participation from the society. Hence they always appreciate and acknowledge the participation of supporters, donors and volunteers in some or the other way.

Some charitable organisations in India provide tax exemptions to its donors for their valuable contribution towards the cause. One such charitable organisation in India is The Akshaya Patra Foundation. Akshaya Patra is an Indian NGO for children working towards the cause of providing free mid-day meal at Government schools. This NGO began its service towards children in June 2000 by feeding 1,500 children in five Government schools in Bangalore. Gradually this charitable organisation in India expanded its reach to other locations across the country. Presently, this NGO for children serves in 23 locations covering 10 states. Every day more than 1.4 lakh children across India gets benefitted with the wholesome and hygienic mid-day meal provided by Akshaya Patra.

Akshaya Patra functions in a Public-Private Partnership model to implement the mid-day meal programme. This NGO for children is one of the 13 Members of the National Steering-cum-Monitoring Committee for Mid-Day Meal Scheme. This NGO has also been inducted in to the Hall of Fame of the renowned Institute of Chartered Accountants of India. These recognitions are testimony to Akshaya Patra's sincere and focussed efforts towards implementing the mid-day meal programme. While it receives ample support from the Central Government and various State Governments, it also receives considerable support from supporters across the globe in various forms like donation, volunteering, campaigns, awareness programmes etc. This NGO for children is well aware and appreciative of the support it receives from corporate and individuals from all walks of life. Akshaya Patra understands that every donation of Rs. 750 can feed one child for one whole year. Aside benefitting the children, it can also be a way to get tax exemptions.

The Finance Ministry has extended support by encouraging this NGO for children to seek donations under Section 35 AC and 80 G of the Income Tax Act and the Ministry of Home Affairs has also accorded the permission to collect overseas donations under the Foreign Contribution Regulation Act (FCRA), 1976. The Section 35AC and 80G Acts of Income Tax allow Akshaya Patra to make available tax exemptions to donors who contribute Rs.500 and above. Thus a donation of Rs. 750 can provide wholesome meal to an underserved child for one whole year and it can also make the donor eligible to get 100% tax exemptions on the donated amount. With this provision of tax exemptions, charity becomes a win-win situation for the beneficiary and the donor too.

Donate to this NGO for children and receive tax exemptions!

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