Even though contributions and donations made to certain relief funds and charitable institutions can be claimed as tax deduction under Section 80G of the Income Tax Act, note that all donations are not eligible for deductions under this.
The year 2020 has seen more than its share of natural calamities and crises, one of them being the current Assam and Bihar flood. Both Assam and Bihar are under severe floods, and it has impacted the lives of millions of people, who have lost their source of livelihood and are struggling to afford even the basic necessities.
Many fortunate people have been trying to reach out to the victims but have been unable to do so. To help reach out to these victims and extend a helping hand, individuals can donate through Paytm. Paytm users across India can contribute their bit by donating to CM Relief Fund.
Additionally, even though contributions and donations made to certain relief funds and charitable institutions can be claimed as tax deduction under Section 80G of the Income Tax Act, note that all donations are not eligible for deductions under this. Donations that are only made to prescribed funds qualify as a deduction that can be claimed by any taxpayer, be it individuals, company, firm, or any other person.
Here is how to do it;
Through Paytm one can donate as low as Re 1. This entire donation process is simple and can be completed in few a minutes.
– Open the Paytm app and click on ‘Show More’ option
– Select the Donations icon under ‘Recharge and Pay Bills section’
– Click on ‘Contribute to’ and select Assam or Bihar Chief Minister’s Relief Fund, wherever you want to donate
– Then enter your name, the amount you will like to donate and Proceed
– To complete the transaction, click on your preferred mode of payment from UPI, cards, Paytm Wallet, and net banking.
– Once your transaction is completed you will be notified.
Through Paytm you can make donations to other organizations. It has more than 60 NGOs listed on the app including Kailash Satyarthi Children’s Foundation, Smile Foundation, Roti Bank, Goonj, Yuvraj Singh Foundation, and Healthy Aging India, etc.