Eligible Donations to Swachh Bharat Kosh and Clean Ganga Fund to be 100% Deductible

The Finance Minister, Shri Arun Jaitley presenting the Budget for 2015-16 in Lok Sabha today, proposed that donations (other than CSR contributions under the Companies Act 2013) to the Swachh Bharat Kosh (by residents and non residents) and Clean Ganga Fund (by residents) will be 100 % deductible under section 80G of the Income-tax Act.

He emphasized on improving the quality of life and public health through Swachh Bharat initiatives. He increased the clean energy cess from Rs. 100 to Rs. 200 per metric tonne of coal etc. to finance clean environment initiatives. Shri Jaitley further raised excise duty from 12 % to 15 % on sacks and bags of polymers of ethylene other than for industrial use. He further introduced an enabling provision to levy Swachh Bharat cess at 2 % or less on all or certain services if required. Shri Jaitley proposed in the budget to exempt services by common effluent treatment plants from service tax. Concessions on custom and excise duty for electrically operated vehicles and hybrid vehicles are to be extended upto 31.03.2016, Shri Jaitley said.

Source : Equity Bulls

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