By IANS,
New Delhi: India’s culture ministry is seeking corporate and private funding to swell the corpus of its National Culture Fund (NCF) to promote, protect and preserve the country’s tangible and intangible cultural heritage, an official statement said Tuesday.
Donations or contributions to NCF are eligible for 100 percent tax exemption under the Income Tax Act, the ministry statement said.
Financial assistance under the National Culture Fund is given to state governments or NGOs to foster India’s contemporary culture as well as cultural heritage and bring the largest possible number of the country’s citizens to engage with culture, it said.
Assistance is not provided to those organisations who have earlier benefited from the ministry or any of its schemes, the statement said.