Donation to Kerala floods: Mobile wallet firms have their heart at the right place but taxpayers inconvenienced
FirstpostA few other mobile wallet companies have swung into action to mobilise funds for the beleaguered people of Kerala devastated by heavy rains, but how convenient is it for making donations Don’t look a gift horse in its mouth is an old hat. Paytm and a few other mobile wallet companies have swung into action to mobilise funds for the beleaguered people of Kerala devastated by heavy rains. Initially, Paytm expressed its inability to issue receipts that would pass muster under section 80G of the Income-tax Act 1961 for claiming deduction from one’s gross total income. But later on, all the mobile wallet platforms seem to have softened their stand and agreed to issue receipts which in turn can be produced to CMDRF for getting yet another receipt, the one that would pass muster under section 80G for claiming deduction by donors. Unless a donor is able to establish a back-to-back relationship with his own small donation to Paytm and the lump sum donation made by the mobile wallet on behalf of a whopping 12 lakh donors aggregating to Rs 30 crore till the time the above blog was posted, 80G seeking donors could be left high and dry.