Online crowdfunding, or what is popularly known as fundraising, is a method to collect funds online for a general cause to help people with the inability to sustain heavy expenditure on their pocket of medical treatments, post-accident treatments, surgeries, education expenditure, etc. It is an effortless method to assist the community within your capabilities.
You can bring a positive change through online crowdfunding and make a prevalent social impact move. Social impact efforts, on the other hand, are the efforts that are done to help society, but they also bring some tax benefits with them, including:
- Tax deduction
- Tax Relaxation
- Taxation rebates as well for your organization.
You can start an online crowdfunding campaign of yours on crowdfunding platforms like Ketto!
Social impact efforts like making donations or raising crowdfund for cancer treatment, education crowdfunding, donating to the environment, paying hospital bills of the needy people through crowdfunding, and taking care of expenses of premature kids’ treatment can bring about a positive change. Social impact efforts not only provide you with the moral satisfaction of performing a good deed but also help you get some tax benefits.
Under section 80G of the Income Tax Act, if you are donating, fundraising, or crowdfunding for a good cause, or making a social impact move, you are eligible to fetch returns or relaxation on your tax ranging from 50 to 100 percent rebates under some specific guidelines.
You need documents like your PAN, Aadhaar, Form 16, and other investment details to file these returns. The following are the steps to file in an income tax return:
- Logging in to the Income Tax department portal
- Downloading income tax return form
- Entering the asked details in form 16
- Calculating your tax details
- Confirming and submitting the above-mentioned details after checking them thoroughly.
Online Crowdfunding for assisting premature kids with their medical treatments
Due to early delivery, premature babies cannot grow or develop fully before birth and need special attention. Preemies’ medical treatments and requirements differ from those of other kids. The medical checkups and attention they ask for are different from that of kids of the same age, making them more prone to diseases. Expenditure on such treatments and checkups is usually higher than expected, sometimes unbearable for parents. In some cases, due to malfunctioned growth and premature birth, multiple surgeries must be performed on the kid, which is harsh but a required phase. The lack of medical treatments and care could also result in the child’s early death. In these challenging times, parents of the kids need financial and mental support.
You can be their helping hand by donating or creating a crowdfunding campaign for medical treatment for premature kids on Ketto!
The Ultimate Crowdfunding Guide!
The online crowdfunding guide is very easy to be followed. You only have to stick to the below-mentioned steps, and your crowdfunding campaign is ready to go.
- Put the details of your helping the preemies campaign and the amount you are expecting to collect to serve as many kids as possible in the campaign. This will enable people to know your purpose clearly and will build a sense of trust.
- Share the campaign on social media applications like Instagram, Twitter, and Facebook. This will enhance the worldwide reach, and you will be able to collect funds within a limited time frame.
These two easy steps could take you a long way and help you fulfill your objective.
Spreading the word among the masses and generating a broadened support base is the key to a successful crowdfunding campaign. You can pay the hospital bills of these kids by yourself, but if you look at the bigger picture, lakhs of these kids in India are waiting for your help. This kind of support and help can only be provided when the society joins hands together and builds a larger support network to help preemies.
As healthcare and happiness are the right of every individual, it should be your purpose to help them enjoy these rights. To build a strong online crowdfunding campaign for paying hospital bills of premature kids, you can incorporate the below-mentioned points to generate a moral effect and support from the people:
You can cover an original story or an example from the real world, which will help you connect emotionally with the people.
- Set up a minimum donation limit
You can set up a minimum donation limit to help you reach your desired fund collection faster.
To make your campaign more legitimate and captivating, you can record and upload videos of people telling their stories to attract the masses.
You should spread the word about your online fundraiser on multiple social media platforms.
To sum it up, you can make an impactful social kindness move easily through the means of online crowdfunding. Isn’t it fascinating? You can determine a simple targeting area and fulfill your aim of betterment and working for a good cause. Such initiatives never go unnoticed and could benefit you and your organization long-term.
Harvesting the benefits of tax rebates, tax reduction, and even donations and grants from other agencies, as well as government affiliation, could create real value for your campaign.