Different ways of getting tax exemption

No matter how much we earn, we all look for ways to save tax. And, as the income tax filing date nears, we try to dig into papers that can save our hard-earned money. Well, instead of stressing up yourself at the last minute, invest your money wisely in schemes that can avail you tax exemptions with ease.

Here is a list that can help you to save tax on your salary:

• House Rent – The Government of India allows exemption of tax for house rents under Section 80GG. House rent is an unavoidable expense that has to be borne by an employee, especially outstation employee, who relocates to different cities to fulfil the demands of their jobs. The eligibility of exemption depends upon certain criterions and the employee has to furnish rent receipts during income tax filing.

• Children Education Allowance – This allowance qualifies a salaried person to avail tax benefits for expenditure pertaining to school fees, hostel fees and similar education-related expenses of their children. This benefit can be availed for up to two children only.

• Housing Loan – A home loan comes with a specific interest rate. Hence, if a salaried person has taken a home loan then he can furnish the required papers to get a tax exemption on the interest amount.

• Donations: Contributing donations to a registered NGO or a charitable trust can exempt you from paying taxes on the donated amount under Section 80G. The donor can either claim for 100% or 50% exemption on the donated amount based upon the receiver and the criterions set by the Income Tax Act.

• Medical Insurance – Under Section 80D, one can claim for exemption on the medical insurance policy. It is applicable to the policyholder and the dependent members too. It is a good opportunity to save tax while remaining secured for any kind of health emergency.

As it is evident that making an investment is a good way to save tax, and, even better if this can bring about a positive change in the society. Offering charity to a not-for-profit can create a win-win situation for the donor and the society. One such NGO is The Akshaya Patra Foundation that provides school lunch to more than 1.6 million government school children on every school day. The Foundation operates its kitchens in 34 locations in 12 states of India. It strives to provide unlimited food for education so that ‘No child in India is deprived of education because of hunger.’ While sustaining its service for the current beneficiaries, the Foundation aims to expand its reach to more locations so that more children can be nourished from its Mid-Day Meal Programme. Akshaya Patra is a recognised charitable trust eligible to offer tax exemptions to its donors as per Section 80G of the Income Tax Act. The Foundation directs all the funds towards providing wholesome meals to children so that they grow up to be healthy, educated, and responsible assets for the country. Thus, by choosing to contribute online donations for NGO, you are not only saving tax on your income but also securing the lives of young children.

So, take a stand and support the cause that will provide for the less-privileged, foster hope, and constructively enrich our society.

Disclaimer: Each of the above-mentioned tax exemption plans has its own terms and conditions. Hence, it is advised to understand the respective tax exemption clauses prior to making an investment or a claim.

NGOs Can Make Education Better By Introducing Innovative Teaching Methods

Innovative teaching methodologies are the spirit of the times we live in. Be it private institutions, or the government-funded education system, there have been concerted efforts to make teaching as relevant as possible so that they meet the needs of the day.

Brain research has shown that certain methods and approaches can indeed enhance the learning process. By applying innovative learning and engaging techniques to classes is a win-win for both students and teachers.

Finding new and innovative methods of teaching is a crucial skill for high school teachers and The Akshaya Patra Foundation is supportive of innovations in education. Apart from different teaching methods, nutritious food also plays an important role in helping children absorb lessons. Over 1.6 million children across 12 states of India are benefitting from the school lunch programme.

Any efforts making education enjoyable for children should not be considered as charity for children. It’s a necessity and it’s the duty of the current generation.

Generational need

The children of today have shown they are capable of doing more than what the school needs them to. It is hence an opportunity for innovations rather than merely speeding up with the syllabus and this might not bear fruit.

Students are now being encouraged to express their opinions and are taught using mediums they are comfortable with. Rather than being stuck to their chairs, teachers are now nurturing tomorrow's leaders, rather than mere robots.

The transition is not going to be easy as education is a state subject and hence each state has to do more with less. However, this is not a suitable model for educational institutes, especially today when students are more dependent on technology.

But for advancements to be introduced successfully, stronger incentives need to be given.

Different Measures

One of the ways these two concepts can come together is through the Bond Measure. It is a method that creates innovative learning environments by re-thinking school designs. The ideas can provide students a thriving and fertile ground for their own ideas by providing them flexible spaces that can support a range of learning styles.

Such environments can foster learning and offer students choices on the type of education they prefer. This is in concurrence to what is called an Opportunity Culture, and it is different from traditional modes of education and school structures. This concept uses age and job redesign and technology suitable for the young minds.

The successful teachers are educationists who ensure enough progress each year to close the achievement gaps and who allowed their students to make significant progress.

Besides increasing the reach of influential instructors, this innovative culture also opens new channels of learning for the teachers themselves. Here there’s a Role of NGOs in ensuring that the new methods of teaching and learning are accessible even to the economically-challenged sections and is not restricted to the upper echelons of the society.

Most of the jobs that result from the Opportunity Culture are team-based and they also provide teachers school daytime planning and associations they need on a priority basis. In addition, this teaching culture can result in massive cost savings, which can go to paying excellent teachers the amount they are worth.

In the new methods of teaching, teachers can become leaders in the classroom rather than just instructors while leading multi-classroom teams and aiding students in developing their individual skills.

This, in turn, can motivate them to go above and beyond the call of duty to aid their students in becoming the best version of themselves, a concept that is the complete opposite of what traditional and arcane education represented.

Along with innovative teaching methodologies, pledge to feed the children with wholesome meal. Also enjoy tax exemptions. Donate today.

On This Day of Happiness It’s Your Turn to Make a Child Happy!

Do you feel good after helping somebody? We’ve heard of many stories of happiness – helping the elderly cross the road, giving up seats for those in need, donating books to a family, and many more! Most stories are about finding kindness in strangers and many such incidents teach us the meaning of inner joy.

International Day of Happiness 2017 is here which aims to create a happier world together. As we celebrate the day of happiness on March 10, 2017, we would like to highlight two important actions that can give you abundant happiness! In her book ’10 Keys to Happier Living’ Vanessa King talks about 10 different actions that you can take to live a happier life. These actions, in short, are called Great Dream; G stands for Giving and M stands for Meaning.

We believe every child deserves to be happy and experience the innocence of childhood. As an NGO in India providing mid-day meals to school children from government schools and government-aided schools, we have made a difference by serving over 2 billion meals in the last 16 years. Today, we would like to elaborate on Vanessa King’s book and talk about the two actions that can help us build a happier society by immersing in the feeling ourselves.

Giving

According to Action for Happiness movement, ‘Giving’ means ‘doing things for others’ and has been described as “Helping others is not only good for them and a good thing to do; it also makes us happier and healthier too. Giving also connects us to others, creating stronger communities and helping to build a happier society for everyone. And it's not all about money - we can also give our time, ideas and energy. So if you want to feel good, do good!”

Meaning

Action for Happiness movement describes it as to ‘be a part of something bigger’. In Vanessa’s words, “It might be our religious faith, being a parent or doing a job that makes a difference. The answers vary for each of us but they all involve being connected to something bigger than ourselves.”

Combining two of Vanessa’s suggestions for a happier life, Akshaya Patra urges you to give children a happier life. We believe two things should not be robbed from childhood – food and education. To ensure this, Akshaya Patra began Food for Education programme in the year 2000 and today, we are the world’s largest NGO-run feeding programme.

Sponsor a child today and tell us what happiness is for a child because it’s your turn to make a difference. Your donations to our charity will give you a 100% tax exemption. However, you are also welcome individuals to volunteer in our kitchens and schools.

Role of NGOs in India in Solving Hunger

Hunger - an epidemic situation among the low-income groups in this world. Hunger – a life threatening situation for everyone especially children.

There are so many food items out there in abundance which will never teach us the real meaning of hunger. Every four hours, we snack on something or probably have full meal to avoid hunger. But there are millions of children out there who struggle for a single meal in a day. We know of many children who are often undernourished as they struggle to get one-time meal during the day. These are also the same children who have no access or inclination towards education.

There are many organisations in India that are playing the role of NGOs and have been trying to address hunger issues. These NGOs act as a channel for people like us to reach out to those in need. One of the leading names is Akshaya Patra that successfully combined food and education wisely so as to reach more and more children with the two basic necessities of life.  The NGO headquartered in Bangalore provides mid- day meals to the children in schools to help them grow and learn with a nutritious diet.

The real meaning of hunger 

Most people associate hunger with quenching the physical need of food. Often when we are hungry, we invariably say – do you have something to eat? We are often vague about food. The only time we truly care about the ingredients of food is while feeding children. The real meaning of hunger for a child differs, and it should. For a child, hunger would mean deprivation of a meal that is instrumental in his physical and mental growth.

Similarly, children have a hunger for their dreams and things that they want. Children have an inherent hunger for knowledge and education. They are curious and wish to quench their thirst for knowledge. The role of NGOs in India thus becomes bigger when it comes to dealing with children’s meal and education issues. Akshaya Patra continues to reach out to millions of children to transform their lives. Also, their work is completely transparent and they make all their information available to public. The organisation strives to quench both physical and mental hunger of children with its mission ‘Food for Education’. When the children get the motivation of a one-time but nutritious meal, they are motivated to come to school. Similarly, parents send all their children to school since they have an assurance that the kids would be fed apart from getting education. This is a progressive model of combining the two missions together which is invariably intertwined. 

Sitting in our offices or comfortable homes, least we can do to help the NGOs such as this by giving what we can. Donating for education in India, especially because it involves supporting the backbone of our country’s future is our contribution to a better society.  All of us do wish to be a part of some noble activity, but our time or job constraints don’t allow us to do so. So here’s our chance to be the game changer in the fight against hunger. All we need to do is make a generous donation to Akshaya Patra and provide children ‘Unlimited Food for Education’. 

Donate today and win tax exemption!