Philanthropists can donate real estate to IITB. Donating real estate can, potentially, eliminate the capital gains tax accrued. Donors can also get a full and fair market value (FMV) income tax deduction, provided they itemize, for the donation. Itemizing also allows the charity of their choice to receive as many funds as possible.
Donations made to IIT Bombay by corporate bodies and individuals are wholly tax-deductible under section 80G of the Indian Income Tax Act. Please consult with your financial and tax advisers regarding your specific situation.
Name of the Donor and Pancard No. is required for issuing a receipt to claim tax exemption under Sec 80G.
Email us the above details to firstname.lastname@example.org