Monday, 24 October 2011

NGO v/s Black Money

NGO “Non Governmental Orgnisation” They are meant to help society with their social awareness for various problems in society. There are many NGO’s in India, which are covered under no taxation on their receipts or payments.

 Donation in NGO is liable for deduction and exemption under section 80G. Section 80G offers a tax deduction for donations to certain prescribed funds and charitable institutions. This section is applicable to all assessees, 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. Havla money from major tax heavens come as donation to NGO’s. NGO’s are paying 1lacs to experts for their visit at Dharvi for Social cause. Experts are non other then the beneficiary or close associates for person making black money in system.

There are many NGO’s across India will pay cash after deducting certain ratio on your donation to meet you Black Money transaction and vice-versa. They are biggest mode of black money transaction. Religion institutions are also part of same racket.

There are few exception for NGO’s and Religion Institution.

Doing Kamaal,

Kamal Upadhyay

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