Can the ant receive funds from Indian and foreign donors?
Yes, the ant is registered with the home Ministry under the FCR Act of 1976 with a registration number 020730005 as an Economic and Social organisation. It is also registered under Section 12A of the Income Tax Act, 1961 and donations to the ant have been granted exemption since inception under Sec 80G of the Income Tax Act 1961 vide 595/80G/CIT/TECH/GHY/2000-01/610 dated 21st of May 2001. Trust rules do not allow for carrying over more than 15% of the receipts in one year to the next financial year unless the money is specifically donated to the Corpus. We are trying to raise a Corpus that will allow us to initiate work at short notice without having to look for donors in emergencies and will also help us prevent wasteful expenses at the end of the Financial year just to meet the trust rules. A line in your letter saying that ‘the donation is made to the Corpus of the ant ‘, will help us to use the money according to our convenience. For more details about where and under what name yo
Yes, the ant is registered with the Home Ministry under the FCR Act of 1976 with a registration number 020730005 as an Economic and Social organisation. It is also registered under Section 12A of the Income Tax Act, 1961 and donations to the ant have been granted exemption since inception under Sec 80G of the Income Tax Act 1961 which is renewed every now and then. Trust rules do not allow for carrying over more than 15% of the receipts in one year to the next financial year unless the money is specifically donated to the Corpus. We are trying to raise a Corpus that will allow us to initiate work at short notice without having to look for donors in emergencies and will also help us prevent wasteful expenses at the end of the Financial Year just to meet the Income Tax rules. A line in your letter saying that ‘the donation is made to the Corpus of the ant, ‘ will help us to use the money according to our convenience even after the end of the Financial Year. For more details about where a
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- Can the ant receive funds from Indian and foreign donors?
