Exempted from tax under Section 44(6) of the Income Tax Act 1967
Ref. No.: LHDN 01/35/42/51/179-b. 7998
The criteria for assessing organisations
applying to the S P SETIA FOUNDATION for assistance:
||The Society / Association / Organisation
must be non-profit.
||It must be properly registered with the
Registrar of Societies / Registrar of Companies or registered
under Trust Deeds and the registration number must be
||It must have clear objectives / visions
||The activities for which the Organisation
is set up must benefit the public at large or a specific
category of people who need help, e.g. the disabled,
the aged, orphans, the destitute, etc.
||The Organisation must be well managed
and accountable to the public, i.e., proper accounts
and reports must be kept (at least once a year).
||Priority will be given to Organisations
which are located in areas where it is difficult to
raise funds, i.e., most of the residents are not well
off and cannot contribute much.
|| Priority will be given to tax exempted
Organisations when considering major projects but in
the case of new and small homes or welfare institutions
which are deserving, this condition will be waived.
|| Organisations which have existed for
five years or more must have a proven track record,
e.g., the number of people assisted, rate of success
(especially if the objective is rehabilitation).
||New Organisations not assisted by the
government and not well publicised but are doing good
work will be given priority.
||Donations are granted for the purchase
of medical equipment to be used by institutions / Organisations
looking after public health / welfare and for purchase
of training equipments used by non-profit educational
/ vocational institutions.
||Organisations applying for building fund
must have the necessary government approvals.
|| Donations are also granted to victims
of natural disasters.
|| Donations are also granted to sports
/ activities that promote national unity.