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In April 2020, the Government of India issued an ordinance to exempt donations made to the Fund before 30 June, allowing them to qualify for a tax deduction under section 80G of The Income-tax Act, 1961.
An organization must meet certain requirements set forth in the code. Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as follows:
All donations to the foundation are tax deductible to the extent of 50 percent under section 80G of the Income Tax Act. [ 1 ] The foundation is headed by Sonia Gandhi , who is also the leader of the Indian National Congress Party.
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Under the same FAQ section, the organization indicates participants can earn $160 for completing the program, $10 or up to $200 per successful referral, and up to $400 in all for participating in ...
Whether a trust, society or Section 8 company, the Income Tax Act, 1961 gives all categories equal treatment, in terms of exempting their income and granting 80G certificates, whereby donors to non-profit organisations may claim a rebate against donations made. [2]
Some plasma donation centers are known for paying top dollar for a plasma donation. The average payment for a single donation is between $30 and $60 per session, although there are centers that ...
Soon after, in July, the society was awarded Certificates of Exemption under Sections 12A and 80G of the Income Tax Act, 1961. ... This section has multiple issues.