Why we do not give bank details

Why we do not give bank details

To properly account for donations received we need complete details of the transaction like:

 

1. Donor's name, address and other contact details.

2. PAN / Aadhaar details if it is an Indian donation.

3.  Passport Number / Tax Identification Number, if it is an international donation.

4. Purpose of donation.


When a donation is received in our bank account directly (by NEFT -- RTGS) we do not get these details from the bank.  We cannot account for such donations nor can we give the donor a receipt for the donation.  Such donations will be clubbed as Anonymous Donations by the Income-Tax Department and subjected to tax at 30% even though we are a Tax-exempt institution. Accepting international donations without necessary details will be a major violation of FCRA 2010.



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