Dear Sir,
- Col Dr GB Sethi (Retd), General Secretary conveyed to all of the grant of Income Tax exemption to donors who contribute to TSEWA under Sec 80(G) of IT Act 1961 by Commissioner of Income Tax (Exemptions), Hyderabad from financial year 2018 – 19.
- As you know, any organization needs funds to run and fulfil its objectives set. We employ three office assistants paying monthly remuneration of Rs 20,000 pm to run TSEWA. We incur expenditure on the following heads: –
- Rent towards TSEWA office located at Bhaskar Rao Nagar, Secunderabad along with electricity, water and telephone charges. The second office located at Vayupuri, Secunderabad is rent-free, kind courtesy of Col (Dr) G B Sethi.
- Purchase and maintenance of office requisites like computers, laptops, mobiles and computer stationery
- Payment of telephone and mobile bills
- Purchase of stationery, books and other items
- Lamination and spiral binding of important documents and registers
- Payment of annual fees for bulk SMS facility to convey important information to members who do not have smart phones
- Postal charges
- Costs incurred towards awareness programmes conducted all over India to educate ESMs and family pensioners of their entitlements and resolve their grievances by taking up their problems with concerned authorities
- Financial assistance to those in penury as a charitable activity and expenditure incurred to ascertain the bona fides of the beneficiary
- Travel expenses of office bearers for TSEWA related activities for benefit of its members
- Payment of fees to our advocates in AFTs on behalf of widows of JCOs / ORs from whom TSEWA does not charge any legal fees
- Payment of charges / annual fees to Hosting Raja for hosting the TSEWA Blog
- Payment of hosting charges for renewal of TSEWA website to the hosting company
- Payment of annual renewal fees for ISO certification to Guardian of London, UK
- Other expenses as and when they come up
- Annual Expenditure to run TSEWA has been increasing every year. As on date, we incur about Rs 9.75 lakhs per annum. This is met by quarterly interest we earn from our fixed deposits in SBI, Bhaskar Rao Nagar, Secunderabad and donations received.
- TSEWA in a short span of less than four years achieved many mile stones towards welfare of Ex-Servicemen and Family pensioners with its limited resources like membership fee and donations from large hearted people both members, nonmembers and even civilians knowing fully that TSEWA did not get 80(G) benefit.
- Now that TSEWA got 80(G) benefit any donor will get 50% of donation deducted from his taxable income. This will reduce Income tax from financial year 2018 – 19. There are two ways to do this.
- One Time Contribution. You can make one-time contribution to TSEWA and get 50% of it as exemption from IT. A member of TSEWA from 40 NDA course who resides in NOIDA contributes Rs 72,000 per year@ Rs 6,000 pm. He now gets IT exemption of Rs 36,000 when he files his IT return by 31 Jul 2018. He does not want to be identified for his wonderful contribution as he believes right hand should not know what left hand is doing. TSEWA is immensely grateful to him. We have been receiving yearly contributions from Sharaddha Foundation, USA run by Col Virendra Tawatia (course mate of Col Ajit Singh Rana (Retd), Bihar Regt) and from Subhadra Foundation, Hyderabad run by Shri Munikrishna. Col Naresh Gupta, Bombay Sapper residing in USA sent Rs 3 lakhs for charitable activities.
- Monthly Contribution. Many contribute monthly to TSEWA. To set an example all Core Committee members of TSEWA contribute Rs 500 per month (Officers) and Rs 100 pm (JCOs / OR). Cmde Sudheer Parakala (Retd) contributes Rs 1,000 per month. All of them will now get IT exemption of 50% of their contribution when they file their IT returns by 31 Jul 2018.
- It is upto to you decide whether to pay more income tax or pay less income tax by donating to TSEWA and get 50% IT exemption from total taxable income. If you want more information on this, kindly contact Lt Col G Parvathesam (Retd), Treasurer at mob no: 9490941822. He puts up list of donations received every month in TSEWA Blog (url: https://www.tsewa.org)
Warm regards,
Brig CS Vidyasagar (Rtd)
TSEWA- 140
040-48540895