Information for institutions who wish to support OAI’s objectives.
OAI is a registered charitable trust registered under Bombay Public Trust Act,1950, with the Office of the Charities Commissioner, Mumbai, vide registration no.E-28886 (MUM) dated July 11, 2012. OAI is also registered under the Income Tax Act, 1961, vide Tax Registration no. TR/45638 / 30.12.2013 and PAN No. AAAT03486E.
OAI has also received the exemption certificate under Section 80G of the Income Tax Act, 1961, vide No. DIT(E)/BC/80G/312/N(2013-14)/2014-15 dated 10th October 2014. This exemption has been granted by the office of DIT (E ), Mumbai, for an unlimited period.
Under section 135(3)(a) of the Companies Act, 2013, read with Schedule VII of the Companies Act, 2013, inter-alia, promoting education including special education and employment enhancing vocational skills especially among differently-abled children is treated as a notified activity under the corporate social responsibility obligations of qualifying companies.
Under Section 135(5) of the Companies Act, 2013, the Board of Directors of every company having :
Networth of Rs. 500 crore or more
Turnover of Rs. 1000 crore or more
Net profit of Rs. 5 crores or more
shall ensure that such company shall spend in every financial year 2% of the average net profits of the company made during the three immediately preceding financial years.
Since the activity(ies) of OAI fall under the activities notified by the government under Section 135 of the Companies Act, 2013, the qualifying company(ies) contributing to OAI among other CSR activities will be fulfilling their obligations under Section 135 of the Companies Act, 2013.