Contributions to the relief fund will be eligible for tax relief under Section 80G of the IncomeTax Act for Indian residents and Indian companies. Under this section, 50% of the contributions made towards charitable trusts (Upto 10% of your Adjusted Gross Total income) will be eligible for exemption.
Indian corporates can donate to this trust fund as part of their CSR initiatives. As per a recent clarification from the Ministry of Corporate Affairs dated 3 March 2020, any spending of CSR funds for COVID-19 is an eligible CSR activity. Write to email@example.com for details.
By agreeing to the declaration during the payment,
I/ We declare the following:
1. I am not a citizen of a country other than India.
2. We are not a foreign company
3. We are not a multinational corporation
a. Citizens of foreign country
b. Foreign company
c. Corporations incorporated in foreign country
d. Trusts, Societies, associations of individuals formed/registered in the foreign country.
e. Government of foreign country
As the crisis around the COVID-19 pandemic grows, the livelihoods of a large number of families surviving on daily wages have been shaken up. We have initiated the project to provide food and sustenance support to help them have a reliable supply of meals in the absence of employment opportunities. OMR Foundation and Charitable Trust is a registered Trust-wide registration number TP/89972320/2020 in the Department of Registration, Government of Tamilnadu.