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:

 

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

  1. 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.
  2. Donation/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.
  3. 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.
  4. 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/Endowment/Gift etc from Alumni in AEF

Name of A/c Holder:- Director, NIT Kurukshetra

Bank Ac Number:- 10116885013

Name of Bank :- State Bank of India

IFSC Code of the Bank:- SBIN0006260 ( NIT Kurukshetra Branch)