News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
General »
 New income tax rules from today, no escape just by paying penalty
 How to link your Aadhaar Card with Income Tax Return?
 Got a tax notice? Here’s what you should do
 How tax efficiency varies across states
 Follow deadline or you may face these consequences Income Tax Return filing
 How to make full use of section 80D to save tax on health insurance?
 Concessional income tax rate in traders' list of demands for Modi govt
 GST Council may consider national bench of AAAR next month
 Non-filing of Income Tax Return can’t be a ground to deny Capital Gain Exemption:a
 Decoding income tax exemptions
 Dividends from equities are tax-free for investors

What are the Income Tax benefits to donors of Kerala flood victims?
August, 23rd 2018

In order to facilitate speedy issue of 80(G) Income Tax receipts, donors should provide the transaction details of donations deposited directly in any of the PMNRF collection banks along with the address of the donor through e-mail at pmnrf@gov.in.

All donations to the Prime Minister’s National Relief Fund and the Kerala Chief Minister’s Distress Relief Fund are tax-free, while contributions to NGOs meant for Kerala flood victims will get 50 per cent income tax rebate. Union Minister of State for Home Kiren Rijiju said the Prime Minister’s National Relief Fund (PMNRF) accepts voluntary contributions from individuals, organisations and trusts. All contributions towards this fund are exempt from income tax under section 80(G).

“For non-governmental organisations (NGOs), it depends if they have exemption under the Income Tax Act. If so, 80G allows 50 per cent rebate,” he told PTI here. An official said donations to the Kerala Chief Minister’s Distress Relief Fund have also been exempted from income tax.

In order to facilitate speedy issue of 80(G) Income Tax receipts, donors should provide the transaction details of donations deposited directly in any of the PMNRF collection banks along with the address of the donor through e-mail at pmnrf@gov.in.

A government official said private donations from abroad to Kerala flood victims have no restrictions if they follow certain rules and routes, even though India as a policy does not accept any donation from foreign governments for disaster victims.

He said individuals and private entities can contribute for the Kerala flood victims subject to certain conditions. There is also no ban on foreign contributions to FCRA-registered NGOs, which are working among the flood victims in Kerala.

The United Arab Emirates (UAE) government has offered USD 100 million (about Rs 700 crore) aid to the rain-ravaged state, but the Indian government is unlikely to accept it. The Kerala government had sought an immediate relief of Rs 2,000 crore to take up relief works.

The Centre had yesterday released Rs 600 crore assistance to the state. The Chief Minister’s Distress Relief Fund (CMDRF) had received donations to the tune of Rs 309 crore till last evening through online and deposits in the special SBI account.

The state, which suffered an estimated loss of Rs 20,000 crore in the deluge, has sought from the Centre a relief package of Rs 2,600 crore under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and the centrally-sponsored programmes.

According to the Disaster Management State Control room, 231 people have lost their lives and 32 are missing in flood-related incidents since August 8.

Nearly 14.50 lakh people belonging to 3.91 lakh families are still lodged in 3,879 relief camps across the state. This year’s flood in Kerala has been termed as the worst since 1924.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions