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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]
FFE has established an organization in India called the Foundation For Excellence India Trust (FFEIT). The organization is recognized as a charitable trust under Section 12A(a) of the Indian Income-Tax Act of 1961. Donations to the Trust are eligible for tax deduction under Section 80G of the Indian Income Tax Act of 1961.
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.
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. [38] [39] [40]
Donations to St. Judes are eligible for tax exemption under Section 80G of the Income Tax Act, 1961. About the Founders Nihal Kaviratne CBE: As a result of his 40 ...
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
Although other zoos also have adoption programs, Nandankanan was the first zoo to get a tax exemption under section 80G of the Income Tax Act. [30] Funds received under the program are used to support the zoo's care and services for all its inhabitants by providing quality food to meet their nutritional requirements, medical care, equipment ...
The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1] Subsequent Budget of FY2021-22 did not see any major announcements in this regime. [ 2 ] During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response [ 3 ] and Government is considering to make it more attractive ...
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