What should be the exemption rate u/s 80G for donations made to charitable organisations like Bharat Sevasram Sangha and Ramakrishna Mission? Can anyone please help?
Dipankar Guha (5 Points)
19 September 2021What should be the exemption rate u/s 80G for donations made to charitable organisations like Bharat Sevasram Sangha and Ramakrishna Mission? Can anyone please help?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 19 September 2021
Any donations made in cash exceeding Rs 2,000 will not be allowed as a deduction. The donations above Rs 2,000 should be made in any mode other than cash to qualify as a deduction under section 80G.
Amount of Donation: The various donations specified in section 80G are eligible for a deduction of up to either 100% or 50% with or without restriction, as provided in section 80G.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 19 September 2021
These two categories can be further subdivided:
Donations without an upper limit: Here, 50% or 100% of the donations can be deducted, as per the charitable institution donated to, without another limitation.
Donations with an upper limit: Here, too, 50% or 100% of the donations can be tax deductible, in accordance with the charitable entity the money is donated to. However, the amount deducted is limited to only 10% of one’s gross total income.......
|
1 |
Welfare Fund of Armed Forces (Army/ Naval/ Air Force) |
No |
100% |
|
2 |
Chief Minister’s Relief Fund (LG’s) of any State (Union Territory) |
No |
100% |
|
3 |
National Illness Assistance Fund |
No |
100% |
|
4 |
National Trust for the well-being of people having cerebral palsy, Autism, multiple disabilities and Mental Retardation |
No |
100% |
|
5 |
CM’s Earthquake Relief Fund, Maharashtra |
No |
100% |
Dipankar Guha
(5 Points)
Replied 19 September 2021
Thank you for your quick reply.
So I can consider 100% exempt rate instead of 50% subject to the two conditions you have mentioned. The instructions against which my query is are Bharat Sevasram Sangha and Ramakrishna Mission.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 19 September 2021
The Government of India has granted 100% income tax exemption to RKMVERI (formerly known as ‘Ramakrishna Mission Vivekananda University’) under section 80G, subsection 2(a) (iii f) of the income tax act, 1961, by an order issued by the department of revenue, ministry of finance, Certificate enclosed.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 19 September 2021
But for Bharat Sevashram Sangha the deduction is 50%. You may confirm the same from the Donation certificate issued by both the institutes. Attached 80G certificate for BSS.
Dipankar Guha
(5 Points)
Replied 19 September 2021
Thank you very much for your response and clarification. This was really helpful.
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