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NITI for I-T Waiver on Donations to Non-Profit Hospitals

: The NITI Aayog has suggested that the government grant 100% exemption in income tax for donations under Section 80G while extending low-cost capital to not-for-profit hospitals as it strives to build healthcare infrastructure in the country to address a possible third wave.

The Aayog has suggested a grant-in-aid scheme for such hospitals, similar to the one in Gujarat, in the long run as these hospitals provide healthcare at much reduced rates compared to hospitals running for profit.

“Income-tax exemption could be increased from the current 50% to 100% for philanthropy toward the identified not-for-profit hospitals. This could be a catalyst in channelizing the much-needed funds to deserving hospital,” the Aayog said.

“Further, the government can consider the provision of working capital loans with lower interest rates, which would be more financially viable for the not-for-profit hospitals and would assist in adequate cash flows during times of need,” it said. S-ET

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