International Road Federation in a letter to Union Finance and Corporate Affairs Minister, Arun Jaitley seeks 100% income tax exemption for industry, corporate houses, NGO’s, individuals and media investing in road safety programmes approved by government under 80 GGA of the Income Tax Act, instead of current 50% under section 80G .
100% tax exemption will further motivate people to donate generously says K K Kapila, Chairman, IRF. Last year, Union Minister for Road Transport & Highways, Nitin Gadkari had also written a letter to Union Finance Minister requesting 100 % IT Exemption on Road Safety programmes to involve corporates.
At the time, 1.38 lakh people were killed from about 5 lakh road accidents reported, resulting in economic losses to the tune of 2-3 % of GDP. Concession extension under provision of section 80 GGA of the proposed Direct Tax Code for incentives will encourage spending. IRF also urges Union Finance Minister to include Road safetyas an approved activity in Corporate Social Responsibility (CSR) provisions in revised Companies’ Bill. Ministry of Road Transport and Highways and Delhi Traffic Police in association with Society of Indian Automobile Manufacturers (SIAM) is hosting ‘Walk for Safety’ on Jan 11th at India gate, Janpath as a part of Road Safety Week from January 11-17, 2015.