Scroll Top

search-icon
    drop-arrow

    Philanthropy

    What is meant by Philanthropy?

    Philanthropy suggests large scale charitable donations to noble causes. It is an attempt made by an individual or organisation on an altruistic desire to improve human welfare. Rich individuals sometimes set up foundations to aid their philanthropic efforts.

    In recent times, philanthropy is usually undertaken by those exploring tax breaks rather than for the satisfaction of helping others.

    Origin of Philanthropy in India

    Philanthropy has a quite long tradition in India. All practising religions embrace the idea of philanthropy and the concept of ‘daan’ functions across religions and cultures. The custom of philanthropy is as old as India, spanning thousands of years. According to the sacred Hindu verse of Bhagavad Gita, one who relishes abundance without sharing with others is a thief. Also, the Muslim community has religiously practised zakat for a long time now.

    There are various government policies that have influenced philanthropy, and there are successful strategies practised by the general population as well as organisations. It is not only practised by the individuals but by the business community too.

    Modes of Philanthropy in India

    It has been providing to the social and economic development for a long time. One can get both formal and informal relevance of philanthropy, most predominantly religious and secular, spread across India as charitable trusts, foundations, NGOs and corporates, as well as social media platforms.

    In the middle ages, there are movements to donate land, labour, and aid to the needy, which was not considered so strongly in the ways of giving across the globe.

    Individually, a person may do philanthropy trusting his instinct. But organisations look at long-term sustainability. Corporate philanthropy is now getting better structured, specifically after the government’s order to companies (registered under the Companies Act, 2013) for spending a part of their profits on corporate social responsibility (CSR).

    Popular Topics

    Latest Articles

    Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

    Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

    CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

    Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

    Cleartax is a product by Defmacro Software Pvt. Ltd.

    Company PolicyTerms of use

    ISO

    ISO 27001

    Data Center

    SSL

    SSL Certified Site

    128-bit encryption