We have answer's to a few questions on tax exemptions, thanks to Raghavendra.
Quoting him below
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No we can not give any receipt which enables the donee to take the benefit u/s.80-G.
To get the benefit, we would have register the trust with the Income tax authorities. To do that,
the minimum requirement is
a) Trust should be in existence for atleast 3 years
b) Trust should have filed the Income tax returns for all the three years.
c) Proper details of all the donees of past 3 years should be maintained.
Considering this, at this stage this is not applicable to the trust. So, we can not give any income tax benefit to donees.
To get the benefit, we would have register the trust with the Income tax authorities. To do that,
the minimum requirement is
a) Trust should be in existence for atleast 3 years
b) Trust should have filed the Income tax returns for all the three years.
c) Proper details of all the donees of past 3 years should be maintained.
Considering this, at this stage this is not applicable to the trust. So, we can not give any income tax benefit to donees.
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We have a clear answer there. As of now, we will not be able to give receipts with which a person/organization donating to us, can claim income tax exemptions
We friends in Bangalore did not meet this week, as we were away.
However, I had the opportunity to meet one Mr. Rahul Kapoorr who is working on an interesting and exciting initiative (http://igniteindiainitiative.com/ ). Clicking on the link will help us to a powerpoint presentation. A good one and thought this information should be shared with all
Thats the information we have this week
Do let know if any further information can be shared between us
Feel free to spread this message to interested organizations or individuals
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