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During our decennial reunion on Dec 26 2015, we had a discussion regarding setting up a batch legacy fund to support a worthy cause. All the details that you need to know to contribute (with 100% tax exemption immediately if you donate before March 31) are given below.
And please spread the word! Please help us reach out to as many batchmates as possible by forwarding them the link to this webpage.
The cause
We agreed on promoting student research at IITB, more specifically sponsoring student travel to reputed conferences. The Alumni & Corporate Relations Office at IITB already has a set procedure and committee for selecting worthy candidates and fund disbursement. For any queries on this, feel free to contact Nikhil Karamchandani (our batchmate and now an Assistant Prof at IITB) at nikhilk@ee.iitb.ac.in or +91 97696 79419.
Note that as a batch, we can choose to change the cause or add another cause in the years to come. We just need to intimate the school in advance so that they can take the necessary steps.
Fund structure
a. The institute will create an account called ‘Class of 2005 (Joining in 2001) - Legacy Project’ to collect all donations.
b. We are targeting to collect a minimum of Rs 10 lakhs (USD 15000) and aim to grant Rs 1 lakh (USD 1500) every year over a period of 15 years.
We recommend a donation of Rs 10,000 from each one of you to be able to reach our target. Please note that this amounts to a donation of only Rs 1000 for each year that has passed since our graduation and is not really a big amount. I hope that we all would be willing to make this one-time contribution :-)
But this is simply a recommendation. Please feel free to donate whatever amount (more or less) that you are comfortable with.
c. The benefit of this structure is that we can continue this initiative next year. In case we fall short of funds or collect more than the targeted amount, we can donate more funds next year or decide a higher disbursement amount in the years to come respectively. All in all, it offers better flexibility to the batch.
Ways to donate
a. Online
b. By cheque
After you have made the donation
a. Drop a one liner email to dean.acr.office@iitb.ac.in (see draft email below). This will help the institute to trace your donations on time and issue the tax exemption receipt before March 31st. All donations received for this purpose will be eligible for 100% tax benefit under section 80G of Income Tax act in India and for appropriate tax benefits in the US. For any clarifications on this front, please feel free to reach out to the following in the Dean ACR’s office:
- Dipti Datye diptidatye@iitb.ac.in or +91 22 25764889
- Manjula Mehta manjula.mehta@iitb.ac.in or +91 22 2576 4881
- Usha Narasimhan narausha@iitb.ac.in or +91 22 2576 7077
b. Spread the word!
In case of any questions, feel free to contact:
- Jayshree Kanther: jayshree.kanther@gmail.com or +91 9594001804
- Nikhil Karamchandani: nikhilk@ee.iitb.ac.in or +91 9769679419
- Megha Gupta: contactmegha@gmail.com or +91 9930835419
- Vinod B: vinodb@karkata.com or +91 99238 88422
Draft of email to the Dean ACR Office once you have donated:
To: dean.acr.office@iitb.ac.in.
Subject: Class of 2005 (Joining in 2001) - Legacy Project
The Dean ACR Office,
I, [Name], have contributed Rs [XYZ] towards ‘Class of 2005 (Joining in 2001) - Legacy Project’ via [Mode of donation] on [Date]. Appreciate an acknowledgement of the same.
Regards,
[Name]
[Contact No]
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