Stealth • 10d
Do you really think that it goes to development of backward areas? So whenever you read that some behemoth has donated money to a foundation there's a very high chance that they are the trustees of the foundation or someone from their family is a trustee of that foundation. If you think about it, It's a very clever business strategy because 1. under Section 80G of the Income Tax Act If you donate to certain specified non-profit organizations in India, you may be able to claim a deduction of up to 50% on your tax return. 2. Foundations don't fall under the category of RTI Act so you don't have to disclose the amount people have donated you. 3. You don't even have to disclose how you have utilised the donated money which i think in which there should be reforms. 4. Free publicity lol
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