TAX EXEMPTION OF DONATION FAQs
Tax exemption is a monetary exemption which lowers taxable income. This include complete relief from taxes, decreased tax rates, or tax on only a portion of items.The term refers to a statutory exemption to a general rule rather than the absence of taxation in certain conditions. Tax exemptions are given to boost certain economic activities.
NGOs having 12A registration are exempt from Income Tax.
Yes, APD is a non-profit organisation registered under the Section 12A & 80G of Income Tax Act. This means any person or organization who donates to APD will get a 50% deduction from the taxable income.
As per the revised tax exemption act, effective April 1, 2017, donations above Rs 500 to us will be eligible for tax exemption under Section 80G of Income Tax Act. The exemption is calculated by deducting 50%of the donated amount from your taxable income. For instance, if your taxable income per year is Rs 100,000 and you make a donation of Rs 2,000 then your net taxable income will become Rs 99,000. Your tax will now be calculated on this new amount basis the prevailing tax rates.
Yes, the donation must be of minimum Rs 500 to avail tax exemption under IT sec 80-G.
Yes, though cash donations exceeding Rs.2,000 are not applicable for 80G certificates.
Certainly. The receipts and tax exemption certificate will be generated within 10 days of your donation and the same shall reach you within 30 days of your donation.
APD will be happy to help you in such cases. Communicate and we can send you the Income Tax Exemption certificate copy.
NRI donors, who are Indian citizens with an Indian passport can avail tax exemption under section 80G of the Income Tax Act. Please provide us your Indian PAN Card Number in the online donation form to avail the tax benefits. You can also write to email@example.com for any further queries.