Tax rebate on road safety donations to motivate more firms:IRF
January, 28th 2013
The income tax rebate on 50 per cent of road safety donations will encourage more people and companies to contribute funds for road safety activities, International Road Federation (IRF) said today.
In a notification issued recently by the Road Transport and Highways Ministry, the government has allowed income tax exemption on 50 per cent of the amount invested by donors or institutions for carrying out road safety programmes.
"...a good beginning has been made. We will be pursuing for 100 per cent exemption. This will motivate more and more people to come forward to contribute for road safety," IRF Chairman K K Kapila said in a statement.
Expressing concern over growing road accidents, she said the companies should keep aside funds as part of the corporate social responsibility for saving lives, she said.
The government's road accident report puts the total fatalities at over 1.42 lakh in 2011 and the number of injured persons is almost 400 per cent more, she added.