Tax Exemption Donation FAQ
We know donations are impactful! The Section 80G of the Income Tax Act provides a valuable opportunity for taxpayers in India to save on taxes by donating to organizations recognized under this provision. It’s a meaningful way to support a cause while benefiting from tax exemptions.
1. How will my tax-saving donation make a difference?
Your donation to BETI Association supports our mission to empower women and improve their lives through various programs. Your contributions help us provide critical support, including educational resources, healthcare, and advocacy, all while offering you the benefit of tax savings.
2. What is the deduction under Section 80G of the Income Tax Act?
Section 80G of the Income Tax Act allows taxpayers to deduct donations made to eligible charitable organizations from their taxable income. Donations to registered NGOs, like BETI Association, qualify for this deduction. When filing your income tax return, [A1] Can be claimed as expense under Section 80G. Please ensure that BETI Association’s 80G registration is active at the time of donation to avail of this benefit.
3. How does a tax-exempt donation help in saving tax?
A tax-exempt donation reduces your taxable income, thereby lowering your tax liability. Registered charities like BETI Association can issue 80G receipts, allowing you to deduct 50% of the donated amount from your taxable income. For example, if your annual taxable income is ₹10,00,000 and you donate ₹20,000, your new taxable income will be ₹ 9,90,000, reducing your income tax accordingly.
4. How can I claim the 80G tax benefit?
Donations to BETI Association are eligible for a 50% deduction from taxable income under Section 80G. BETI Association is registered with the IT department under the 80G section, with registration number [A1] which will be given to you in your donation receipt. After making a donation, you will receive an 80G receipt which you can use when filing your income tax return. Form 10BE will also be issued to the donor in due course of time to confirm the claim of donation.
5. What is the minimum amount that needs to be donated to get a tax exemption?
There is no specified minimum amount for tax exemption under Section 80G. However, we recommend a minimum donation of ₹2,000 to cover administrative and documentation costs.
6. Are there any tax exemptions on cash donations?
As per revised IT rules, cash donations exceeding ₹2,000 are not allowed to be claimed as expense.[A2] For transparency and accountability, BETI Association does not accept cash donations above Rs. 2000 in cash per person.
7. Does BETI Association issue tax receipts? How long does it take to generate 80G tax receipts?
Yes, BETI Association issues tax receipts for all donations. Receipts are emailed to the address provided during the donation process and can also be sent via WhatsApp. For online donations, 80G certificates are generated within 15 working days, and for offline donations, it takes about 20 to 25 working days.
8. What is needed while making an 80G donation?
Please provide your Scan Copy of your PAN, email address, and contact details while making a donation. This information helps in processing your 80G certificate [A3] and aids the Income Tax department in auto-populating donation details during tax return filing.
9. When can I get a tax exemption certificate?
For online donations, 80G certificates are issued within 15 working days. For offline contributions, it typically takes 20 to 25 working days. The certificate will be sent to the email address provided during the donation.
10. What if my tax receipt is lost or misplaced?
If you lose or misplace your tax receipt, please email us at info@betimovement.in to request a duplicate copy.
11. I am an NRI (Non-Resident Indian). Will I get a tax exemption on my donation? NRI donors who are Indian citizens holding an Indian passport are eligible for tax exemption under Section 80G. Please ensure to provide your Scan Copy of your PAN with your donation. For further assistance, contact us at info@betimovement.in