Philanthropy Now Comes With Tax Benefits

Man cannot be a loner. We the human beings are interdependent creatures. That is the reason why we have formed societies, communities, and all sorts of groups.  Since the humans are depended on each other for various things, it becomes their duty to look after the people who cannot afford certain basic amenities. And there are certain institutions and groups which work on channelizing these provisions or donations in a proper way. But this can only happen when every person of the country takes an initiative of looking after every member of this huge family.

People need help

There are many people in the society who are unable to get through some or the other difficult circumstances and that is just because they do not have sufficient funds. For instance there are a lot of cancer patients who cannot afford to get a proper treatment. This is just one section which needs help. Similarly there are many other sections which require this kind of monetary or may be any kind of contribution one can make.

Government comes into play

The government of India has also encouraged donations so that the unprivileged people of the country at least do not have to struggle for bread and shelter. For this reason an individual or a company which makes a donation to an organisation working for the betterment of a certain group of people can enjoy donation tax exemption. This provisional benefit is made under section 35ac and 80gga under income tax act. Under these sections, one can enjoy a tax deduction of up to 100 percent of the donation made. There are certain terms and conditions one has to follow though. One of the most important conditions is that the donation must be made to an organisation which is registered under these sections. The ones which are not registered cannot help you get tax exemption under these sections at least.

Donations made easy

We live in a digital era where every day several people are consistently working to make the lives of human beings easier and more comfortable. Gone are the days when shopping used to be one of the most exhausting and boring activities of all. Today one can shop online and save a lot of time, effort and money. Similarly one can also make donations to their favourite organisations without physically going to their centres. There are many NGOs which have started accepting online donations and they even guarantee maximum tax exemption on the donations made.

Necessary precautions

The donation websites are mostly safe and secured but one should never forget to take certain precautions:

·        Always have a background check on the organisation you are donating to.

·        Ensure that these organisations are government certified and hence authentic.

·        Look for the necessary certifications for tax exemption.

·        Never let the payment gateways save your credit card details.

·        Just to avoid any loss make a small donation for the first time.

 Man is a social animal and people can only move further if they help each other. The donation one makes will in some way or the other benefit him/her only. More over no happiness can be compared to the joy of giving and knowing that someone out there is able to eat even if it is just for one time. Philanthropy is the cheapest virtue. Try enjoying it and make your life blissful.