Recently i have observed during shopping that, during billing time the person will ask would you like to donate Rs.2 … Rs.5 etc for some foundation like old age, CRY etc.
I would like to know just for information.. i know some of these NGO are 100% tax exempted under 80G section of the individual.
Since we are donating the amount only in single digits ( if any ), then the person will not provide any tax certificate, just in bill we get donated so and so amount.
(1) Do companies like this really donate the money to the NGO ?
(2) If So, do the companies do get the same benefit of tax exemption ?
(3) If Yes, with public money the companies are gaining due to tax exemption.
What is your valuable feedback on this. Do you recommend donating to these shopping places ?
Wonderful thought, even I too never bothered about this 🙂
- It may or may not. Because whether they show it in public that they actually paid?
- If they donate the money on behalf of them, then defenitily they have the eligibility to claim tax deduction.
- Yes, you are right. But the problem is the shopping idea itself is filed with people who are on spending spree or show off spree. Will they really bother to such small amount of Rs.2 or Rs.5?
But I once again appreciate your thought on this aspect.