News From Shirdi

News from Shirdi: Income Tax rule 1961 clause 35 AC to Shri Saibaba Sansthan, Shirdi Finance ministry of Government of India has granted the permission of 100 percent exemption in the Income Tax on the amount of donations being given by Sai devotees to the Sansthan. This exemption will be as per the Income Tax rule 1961 clause 35 AC. Chairman, Vice-chairman and Executive officer of the Sansthan, MLA Jayant Sasane, Shankarrao Kolhe and Bhausaheb Wakchaure respectively informed jointly in a press release here. Ministry of the Central Government has published this information in the gazzate of India. This sanction is given under the scheme of social, economical, health, educational developments and essential facilities for the Sansthan. Sansthan can collect the donations upto Rupees 75 crores under this scheme. Uptil now, donors were getting 50 percent excemption in Income Tax on donated amount as per clause 80G. Thereafter the donors will get 100 percent exemption in Income Tax on donated amounts as per clause 35 AC. The donations to be received under this scheme will be utilised for hospital, school, museum and food supply. Economically backward people can get the benefit under this scheme. The period of this scheme is from financial year 2005 to 2008. As per the gazzate published on February 3rd 2006, by the Finance Ministry of India, 12 such organisations(centers) got this permission. Shri Sai Baba Sansthan Trust (Shirdi) has got the highest limit of collection of donation i.e. Rupees 75 crores, is a matter of appreciation. The donors are appealed to take the benefit of this scheme, informed by Mr. Sasane, Mr. Kolhe and Mr. Wakchaure. (Contributed by Press Release, Shri Saibaba Sansthan Trust, Shirdi)