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NGO V/S Black Money
NGO “Non Governmental Organisation”, they are meant to help the society with their social awareness for various problems in the society. There are many NGO’s in India, which are covered under no taxation on their receipts or payments.
Donation in an NGO is liable for deduction and exemption under the section 80G. Section 80G offers a tax deduction for donations made to certain prescribed funds and charitable institutions. This section is applicable to all assesses, who make an eligible donation, whether an individual, HUF, NRI or a company.
There are many NGO’s all over India who have major business of pumping money from overseas to Indian economy. Havala money from major tax heavens come as donations to many NGO’s. NGO’s are paying 1lacs to experts for their visit at Dharvi for Social causes. Experts are none other then the beneficiaries or close associates of people making the black money in the system.
There are many NGO’s across India that pay cash after deducting certain ratio on your donation to meet your Black Money transaction and vice-versa. They are biggest mode of black money transaction in India right now. Religion institutions are also part of the same racket.
There are few exception for NGO’s and the Religion Institution.