Miranda House has been notified in the list of approved Educational Institutions of National Eminence u/s 80G(2) (iiif) of the Income Tax Act 1961 by the Director General of Income Tax (Exemptions) Calcutta vide Notification No. 238 (F. No. DG/CAL/15/80G(2) (iiif) 96) dated 3.9.1996.
Accordingly, donations to Miranda House are 100% exempt from income tax u/s 80G(2)
(iiif) of the Income Tax Act 1961, subject to the following conditions:
(i) the educational institution of national eminence will apply the amounts of donations received, wholly and exclusively to the objects for which it is established;
(ii) in respect of the donations received under the aforesaid provisions and expenditure made therefrom, the educational institution of national eminence shall maintain separate accounts;
(iii) a copy of the accounts of each accounting year shall be submitted to the prescribed authority by 31 st December and following the last date of the accounting year.