Tax exemption is the deduction allowed by law that lowers the taxable income. You can get complete relief from tax or avail decreased tax rates on a certain portion of your income, according to various provisions of the Income Tax Act for different types of income. Tax exemptions are offered to boost certain economic activities and to promote socially beneficial activities.
Section 80G of the Income Tax Act, 1961 offers tax deductions to the charitable trust as well as the associated donor, provided the NGO is registered under the Act. You can avail the deduction by presenting the receipt of the donation made to the NGO.
Section 80G of the Indian Income Tax Act allows a tax deduction for contributions to certain relief funds and charitable institutions. Thus, you can claim tax deductions in Section 80G apart from Section 80C and save maximum taxes.
The Roof Federation has the approval of the Income Tax department under the above section.
Donations above ₹500 to Roof Federation will be eligible for a 50% deduction from one’s taxable income under Section 80G of the Income Tax Act, by contributing to Roof Federation, you will help by providing Food, Education, Medicines, and Clothes to school children and benefit yourself with tax deductions.
To take care of documentation expenses, Roof Federation requests a minimum of ₹500 to be donated to avail tax exemption under Income Tax Section 80G
The maximum limit for deduction depends on the category of donation. In some cases, the maximum limit for the deduction is not set; while in some others, 80G deductions can be claimed up to a limit of 10% of the adjusted gross total income of the donor.
Yes, you can expect your receipts within 10 working days of making the donation.
Cash donations above ₹2,000 are not applicable for 80G certificates.
Roof Federation generate the tax certificate within 6 days from the date of making the online contribution. It takes maximum 10 working days for the tax exemption certificate to reach you on the mail. If you contribute offline, it takes 10 to 15 working days.
From the financial year 2021-22, under the latest Income Tax rules, Roof Federation would be required to upload all the donation details to the Income Tax website under form 10BD and generate a certificate as per form 10BE. Roof Federation would generate this certificate periodically and send an email to the donors
We may not be able to provide you with a duplicate receipt. But we may send the Income Tax exemption certificate copy on the email address provided by the donors.
NRI (Non-Resident Indian) donors, who are Indian citizens holding an Indian passport, are eligible for tax exemption under Section 80G of the Income Tax Act. Do not forget to mention your Indian PAN Card Number on the online donation form to avail the tax benefits.
Taxpayers should have all the following documents to claim deductions under Section 80G.
Yes, you can claim a deduction under Section 80G through your employer. For that, you will need a certificate from your employer stating that such a donation has been made from your salary.
You can claim tax deductions on the donations made to an NGO provided the NGO is registered under Section 80G of the Income Tax Act, 1961. Not only that, helping those in need of your support also makes you happy and fulfilled.
Cash donations up to ₹2,000 are applicable for 80G certificates. If you wish to contribute more than ₹2,000, it must be in any mode other than cash to qualify for 80G deductions.
When you donate to Roof Federation, the benefit can be availed by reducing 50% of the donated amount from your taxable income. For instance, if your taxable income per year is ₹200,000 and you donate ₹10,000, then your net taxable income will become ₹195,000 (i.e., ₹200,000 – 50% of your donation). Your tax will now be calculated on this reduced taxable income based on the prevailing tax rates.
