All donations will be used for the specified purpose only until the donations are for the Foundation and not any specific cause such as Cancer Treatment, Underprivilege Children Education, Disaster Relief or any of the Urgent Causes.
Donations to Friends N Smile Foundation Qualify for Section 80 G of Income tax deductions for the Donor.
Friends N Smile Foundation is also entitled to receive grants and funds from various agencies, Government as well as International under Section 12A.
Deduction under Section 80G – Terms & Conditions
1. Tax deductions cannot be claimed for contributions over ₹2,000 made in cash.
2. Contributions made in kind are not eligible for tax deductions under Section 80G of the Income Tax Act.
3. Contributions made to trusts registered outside India are not eligible for tax deductions.
What is the Mode of Payment to Avail Section 80G?
The deductions applicable under Section 80G of the Income Tax Act can be claimed only when the contribution is done through a cheque, draft, cash. Cash donations above ₹2,000 are not to be considered in Section 80G deduction calculation. You will have to make the payment in any other mode than cash for an amount greater than ₹2,000. The donations made will be eligible in the Section 80G deduction limit up to 100% or 50% with or without restriction as prescribed in the section.
Eligibility for Claiming Deductions Under 80G
In order to claim tax deductions under Section 80G of Income Tax Act, you would have to meet the eligibility criteria mentioned
· NRIs contributing to applicable trusts
· Individuals and HUFs
· You should have relevant proof of your
· You should have made the contribution to the
charitable organisation from your taxable income. Donations made from non-taxable income is not eligible for deductions.
Claiming 80G Tax Deductions
A proof of payment is of paramount importance when
claiming deductions under Section 80G for charitable contributions. For a successful tax rebate, ensure that you collect a receipt of your donation from the charity that you donated to. The receipt needs to contain the following information:
1. Name of the donor
2. The amount that was donated
3. Name, Address, and PAN of the benefactor of the donation
4. Registration number of the charity