01-MAY-2019: Tax rebate on donations to AMU
Aligarh, May 1: Donation to Aligarh Muslim University (AMU) has now become a convenient tool to reduce the income tax liability. As per the orders of Mr Pramod Kumar Gupta, Chief Commissioner of Income Tax (Exemptions), Department of Revenue, Government of India (GoI), New Delhi; AMU has been granted 100 percent exemption under Section 80 G of Income Tax Act, 1961 for receiving donation exclusively to the objects for which it is established.
It implies that those willing to donate to the University can get the certificate of exemption under Section 80 G of Income Tax Act, 1961 and with it the taxpayers can claim deduction for their donations made through cheque, draft or cash.
"The new orders of Chief Commissioner of Income Tax (Exemptions), New Delhi will provide a substantial donation tax rebate to people making donations to AMU, as well as the satisfaction of having made a difference," stated a university notice to inform socially-minded alumni and well wishers, who are willing to make donations to AMU.
The notice further mentioned: "The GoI offers Section 80G donation tax rebate as an incentive for donation. Under the Income Tax Act, Section 80G can be accessed via contribution to AMU."
In an earlier notification to AMU, the Chief Commissioner of Income Tax (Exemptions), Department of Revenue informed: "In exercise of the powers conferred by the Sub-Clause (iii) of sub-section 2 (a) of Section 80 G of Income Tax Act, 1961 (43 of 1961), the prescribed authority notifies AMU as a University of National eminence."
The Chief Commissioner of Income Tax (Exemptions) pointed out the income tax exemption is subject to the conditions that AMU will apply the amount of donation received wholly and exclusively to the objects for which it is established, AMU will have to maintain separate accounts for these donations and a copy of account to each accounting year shall be submitted to the prescribed authority by December 31st next following the last date of accounting year.
Public Relations Office
Aligarh Muslim University