Yes, you can. As of 2025-01-21, IIT Bombay is officially recognized by the Canada Revenue Agency (CRA) as a ‘Qualified Donee’ specifically listed by the CRA in Schedule VIII of the Income Tax Regulations. You can find this list here: https://www.canada.ca/en/revenue-agency/services/charities-giving/other-organizations-that-issue-donation-receipts-qualified-donees/other-qualified-donees-listings/list-prescribed-universities-outside-canada.html. Under the Canadian Income Tax Act, qualified donees are organizations that can issue official donation receipts for gifts they receive from individuals and corporations.
Frequently Asked Questions (FAQs)- Canada
What is IIT Bombay’s legal name for the purposes of the QD status?
Indian Institute of Technology, Bombay. You can find the name here: https://www.canada.ca/en/revenue-agency/services/charities-giving/other-organizations-that-issue-donation-receipts-qualified-donees/other-qualified-donees-listings/list-prescribed-universities-outside-canada.html
What is the charitable registration no. for IIT Bombay?
As per CRA requirements, for qualified donees no registration number is required. All relevant details are included in the donation receipt.
Can I make a charitable donation through my company and receive tax credit?
It is best to take advice from your tax consultant before making any such contribution.
How can I remit money from Canada to IIT Bombay as a Charitable Donation?
Remittances made by individuals from Canada to non-individual entities in India such as IIT Bombay, have restrictions imposed by many remittance channels including such channels as Remitly and Wise. Furthermore, there are restrictions imposed by channels in Canada when the reason for remittance is charitable donations. Many Canadian alumnus who have provided us with feedback have indicated that, making a wire transfer to IIT Bombay accounts at a bank branch works better to remit money to IIT Bombay Accounts for Charitable Donation Purposes. Remittances may be made to IIT Bombay accounts as below:
ICICI Bank Ltd, Powai, Mumbai
Account Name: IIT Bombay Donation Account
Account No: 002001027634
Swift Code: ICICINBBCTS
IFSC Code: ICIC0000020
MIRC No: 400229004
IIT Bombay is interested in documenting and sharing experiences of alumni remitting for Charitable Donation purposes from Canada. If you wish to know about the experiences of others or wish to share your own experience or have knowledge or experience that can facilitate the remitting experience please share that with givingback@iitbacr.com
Can I make a restricted donation (e.g., for a specific faculty fellowship, research or scholarship)?
Yes, we welcome restricted donations. You can email us at givingback@iitbacr.com to specify that your donation should go towards a particular cause or setup a meeting to discuss how your gift can best be directed to align with your interests.
When will I receive my official donation receipt?
For Bank/Wire transfers, receipts will be shared within 7 working days from receipt of the donation on a best effort basis.
Tax Exemptions & Benefits
Every situation is different – Please consult a tax advisor to determine how these benefits apply to you based on your tax bracket.
Important Note: The information provided here is for general guidance only. Tax laws can be complex and may change. It is always recommended to consult with a qualified tax advisor or financial planner in Canada to discuss your specific philanthropic goals and how they align with Canadian tax regulations. You can also visit the Canada Revenue Agency (CRA) website at https://www.canada.ca/en/services/taxes.html for the most up-to-date and authoritative information on charitable giving.
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