Tax authorities allow tax exemptions on contributions to NGOs, trusts, and central and state relief funds. These are covered under the Section 80G of the Indian Income Tax Act, 1961. ‘Charitable purpose’ includes relief of the poor, education, yoga, medical relief, preservation of environment (including watersheds, forests and wildlife) and preservation of monuments or places or objects of artistic or historic interest and the advancement of any object of general public utility.
Atma Foundation one of the best Charitable Trust in Kerala eligible for tax exemption and its income is allocated to the empowerment of children, women and senior citizens.
Trust claiming Tax Exemption under Section 11
Section 11 lays down that any income, profit or gain derived from property held under trust or other legal obligation wholly for religious and charitable purposes, shall not be included in the total income of the trust or institution in so far as such income is applied or accumulated for application to such purposes.
Trust eligible for Tax Exemption
The following charitable or religious trusts are entitled to exemption under section 11 and section 12, on fulfillment of certain conditions:
- Trusts created wholly for charitable and religious purposes and applying their income to such purposes in India.
- Trusts created before 1.4.1962 in part only for charitable or religious purposes and applying (or accumulating) their income to such purposes, in India.
- Trusts created before 1.4.1952 for charitable or religious purposes, authorised by a general or special order of the Board, and applying their income to such purposes outside India.
- Trusts created on or after 1.4.1952, for the charitable purpose of promoting international welfare in which India is interested, authorised by a General or special order of the Board, and applying their income for such purpose outside India.
- Charitable trusts created for the benefit of scheduled castes, tribes backward classes or woman and children.
Atma Foundation Empower individuals, families and social groups to lead happier lives with healthier relationships and serve less privileged fellow beings with love, by fostering intrapersonal and interpersonal harmony.
For more information please visit www.atmafoundation.org