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National Institute of Technology Kurukshetra
(Institution of National Importance)
राष्ट्रीय प्रौद्योगिकी संस्थान कुरुक्षेत्र
राष्ट्रीय महत्व का संस्थान
National Institute of Technology
Kurukshetra-136119, Haryana

Donation to AEF

The NITKKR-AEB will set in place the detailed key donor clauses. Some of the important points of the key donor clauses are as follows:

  • Donated funds to be mandatorily governed by the NIT KURUKSHETRA ALUMNI ENDOWMENT BOARD in line with donor-specific instructions or general purposes as decided by the NIT KURUKSHETRA ALUMNI ENDOWMENT BOARD.

  • NITKKR-AEB to be the key signatory to the fund flows from the NIT Kurukshetra Alumni Endowment Fund account.

  • Direct a certain portion of the donated funds (Not more than 5%) towards the funding of the expenses related to operations of the Endowment fund.

  • Requirement of 2/3rd NITKKR-AEB approval for making any change to the structure of the NIT Kurukshetra Alumni Endowment Fund.

 

Broad Category of Financial Contributions to ‘Alumni  Endowment Fund (AEF)’

  • Donation/Contribution by individual or others without any stated purpose of its utilization: Such contributions shall be pooled into the institute corpus, and the interest accrued on the corpus shall be utilized by the institute based on the recommendation of the COMMITTEE.

  • Donation or contribution by individual or others with a stated purpose of its utilization: Such contributions shall be managed by the COMMITTEE with additional members co-opted from the DONORS to oversee and manage the contributed fund for the stated purpose and objectives of the DONORS.

  • Donation/Contribution by individual or others in response to a stated / defined project proposal:  Such contributions shall be managed by the COMMITTEE with additional members co-opted from the project initiators/user departments to oversee and manage the contributed fund for the stated purpose and objectives of the DONORS.

  • Tax concessions/Rebate from Central Board of Direct Taxes (CBDT) and Section 35 of IT Act:  Efforts are being made in the directions of obtaining the Tax Concession/Rebate certification from CBDT under section 35 of IT Act. The Institute shall update the website once the certificate in this regard will be issued by the CBDT.

The receipts, expenses and utilization of the fund shall be audited every year as per statutory regulations and the copies of Audited accounts be shared with bulk donors as well batch representatives who have contributed as a batch.

 

Bank A/c Details of the Institute for accepting Donations, Endowments, Gifts, etc from Alumni in AEF
Name of A/c Holder: Director, NIT Kurukshetra
Bank Ac Number: 10116885013
Name of Bank: State Bank of India (SBI)
IFSC Code of the Bank: SBIN0006260 (NIT Kurukshetra Branch)