India
In India, trusts set up for the social causes and approved by the Income Tax Department, get not only exemption from payment of tax but also the donors to such trusts can deduct the amount of donation to the trust from their taxable income. The legal framework in India recognizes activities including "relief of the poor, education, medical relief, and the advancement of any other object of general public utility" as charitable purposes. Companies formed under Section 25 of the Companies Act, 1956 for promoting charity also receive benefits under law including exemption from various procedural provisions of the Companies Act, either fully or in part, and are also entitled to such other exemptions that the Central Government may accord through its orders.
Read more about this topic: Charitable Trust
Famous quotes containing the word india:
“There exists no politician in India daring enough to attempt to explain to the masses that cows can be eaten.”
—Indira Gandhi (1917–1984)
“India has 2,000,000 gods, and worships them all. In religion other countries are paupers; India is the only millionaire.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“India is an abstraction.... India is no more a political personality than Europe. India is a geographical term. It is no more a united nation than the Equator.”
—Winston Churchill (1874–1965)