IT EXEMPTION ALLOWED FOR DONATIONS TO 10 BODIES

The Finance Ministry has notified 10 organisations in Maharashtra, including three from Mumbai, for tax exemption to their donors under Section 35AC of the Income Tax Act, fixing the ceiling of the expenditure they can incur on the projects so approved.

The donations eligible for deduction from income will be for the specific projects for social and economic welfare and uplift of the public as recommended by the National Committee for Promotion of Social and Economic Welfare, says the gazette notification issued on September 22.

The organisations from Mumbai and the amount of donations they can take for the specific projects are: Jeevan Prakash, Sion (Rs 2 crore), Kantalaxmi Mohanlal Pathak Foundation for Dr Bhanuben Nanavati Rural General Hospital at Chorvad (Rs 1.50 crore), and Shantilal Shanghvi Foundation of Vile Parle for providing education, health and food to urban poor children (Rs 25 crore).

Others in Maharashtra allowed the benefit are: Shivaji Shikshan Prasak Mandal, Saswad, Pune for children and youth education career guidance and counseling centre (Rs 5.58 crore), Rudreshwar Tarachand Charitable Trust, Bangaon, Nashik for awareness camps on HIV/Aids, TB and cancer patients and ambulance for weaker sections of people (Rs 2.96 crore),VHBP Pandurang Kate Prtisthan, Pune for Jeevan Sudhar to provide quality education to special, needy children and social and intellectual upliftment of girls and women from low socio-economic background in and aroun Pune (Rs 4.12 crore), Mahila Unnati Kendra, Bosale Nagar, Pune for women vocational training centre (Rs 4.25 crore), Compassion Charitable Trust, Khadki, Pune for rehabilitation cum recreation home for child beggars and street dwelling children (Rs 2.66 crore)Mann Deshi Foundation, Khaswad, Satara for Mann Dshi Bandhara (Rs 6 crore), and Ahmednagar Jilha Talim Sangh for wrestling competion, adoption of children, free notebooks distribution, and construction of a stadium at Ahmedabad (Rs 2.53 crore).