List Of Approved Institution For Donation In Malaysia

Donations to charitable institutions.

List of approved institution for donation in malaysia. Amount is limited to 7 of aggregate income subsection 44 11b 4. Jadual average lending rate bank negara malaysia seksyen 140b sekatan ke atas kebolehpotongan faedah seksyen 140c akta cukai pendapatan 1967 edisi bahasa inggeris sahaja study group on asian tax administration and research sgatar. Fines and penalties are generally not deductible. Donations to name facilities of approved beneficiaries including artefacts and public sculptures under any of the other approved donation programmes.

There are many opportunities for volunteer work in malaysia. Amount is limited to 7 of aggregate income subsection 44 6 3 gift of money or cost of contribution in kind for any approved sports activity or sports body. List of institutions under section 44 6 ita 1967 approved donation for tax deductions. A deduction is allowed for cash donations to approved institutions defined made in the basis period for a year of assessment.

Approved donations gifts limit gift of money to government or local authority none cash donation paid to approved institutions or organisations gift of money orcontiibutioninlkino to any sports activity or approved 70 0 of sports body gift of moneyorcostofcontribution aggregate income in kind to any project of national interest. Is there a minimum amount of donation required for me to be eligible for tax exemption. Gift of money to approved institutions or organisations. Since this donation is limited to 7 of his aggregate income he can claim rm4 200 7 x rm60 000 in tax deductions.

Yes wwf malaysia is an ngo under sub section 44 6 of income tax act 1967 all cash donations are tax deductible applicable only to donations made within malaysia. And donations under any of the approved donation programmes where the ipc or approved beneficiary acknowledges the donation by including the donor s name or logo in the ipc s collaterals e g. The deduction is limited to 10 of the aggregate income of that company for a year of assessment. Contact the ngos directly to check what their current needs are.

You are free to donate as much or as little an amount. Here s quick scenario to briefly illustrate how the whole thing works. Approved university or educational institution of national eminence. A list of institutions where donations are eligible for tax benefits under sec 80g.