About IIMA Endowment Fund General Corpus
Q.1 What is the IIMA Endowment Fund General Corpus?
The IIMA Endowment Fund General Corpus is a strategic, long-term, flexible source of funds for the
Institute. This robust corpus is IIMA’s war chest against any unforeseen shocks and enables the
Institute to pursue strategic objectives and plan for continued development. Your donation becomes
a vital source of annual operating support, directly contributing to the advancement of IIMA's core
mission and charter.
Q.2 Are contributions made to the IIMA Endowment Fund General Corpus exempted from Income Tax?
Yes. The contributions made to the IIMA Endowment Fund General Corpus are exempted from the
Income Tax. IMA is a notified u/s 80G(2)(a) (iiif) of the Income Tax Act, 1961. Accordingly, the donors
are entitled to a 100% deduction without any limit.
Q.3 What will the funds contributed to the IIMA Endowment Fund General Corpus be used for?
The funds contributed to the IIMA Endowment Fund General Corpus are unencumbered by purposes
that may lose relevance over time. The funds contributed to the IIMA Endowment Fund General
Corpus are used to fund various activities at IIMA, including Scholarships & Awards, Supporting
Faculty research and Research Centres.
For Domestic Donors
(Applicable to Indian Donors holding Indian PAN Cards)
Q1. What are the modes through which domestic donations can be made?
All domestic donors can
contribute through Wire Transfer / Credit Card / Debit Card / Cheque / UPI/ Wallet & Cash Card. If
you want to pay using Cheque/ Direct Wire Transfer, please pay to IIMA’s Indian Currency account.
Details of IIMA’s local currency account are as given below:
Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048 Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name:
HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048 Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name:
HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048
Q2. Are CSR Donations accepted through the IIMA Endowment Fund?
Yes. CSR donations are accepted through the IIMA Endowment Fund. Please reach us at
endowment@iima.ac.in for further details.a
Q.3 Are contributions towards the IIMA Endowment Fund exempted from Income Tax?
Yes, all donations to the Light the Way Donation drive are 100% Tax deductible. IIMA is a notified u/s
80G(2)(a)(iiif) of the Income Tax Act, 1961. Accordingly, the donors are entitled to a 100% deduction
without any limit. For more details, click here
Q.4 How will be a formal donation receipt issued for my donation?
We are keeping a record of your donation on this site. We will use this data to validate your
donation with our bank. Once your amount is received in our bank account, we will get in touch with
you through email/mobile (that you have submitted on this site) to complete your details for issuing
the 80G Tax Receipt. Once the receipt is issued, we will mail a copy of the same to your email as well
as send a hard copy through the post to the address shared in the donation form.
For Donors in the UK
Q.1 I am a donor from the UK and how do I take tax benefits after my donation?
For donors in the United Kingdom, tax-effective giving to the 2001 batch donation drive is possible
via the tax incentives as available under Gift Aid. Donations are also eligible for employer matching
programs. To avail of the tax benefits, donations should be sent to IIMA Alumni Association London,
which is a registered charity with the UK charities commission # 1117664 & HMRC Tax id:
922/XT3019. Further details on Gift Aid, including the latest tax relief rates, are available at:
https://www.gov.uk/donating-to-charity/gift-aid
Q.2 What is the bank details for donations to the IIMA Alumni Association London?
Funds can be transferred to IIMA Alumni Association London as given here:
Funds can be transferred to IIMA Alumni Association UK as below:
Account Number: 76231759
Bank’s Name & Address:
ICICI Bank UK Plc 45 South Road, Southall UB1 1SWA
Bank Sort Code: 30-01-28
Remittance Comments (if provided by bank): ( Contribution to IIMA Endowment Fund )
Taxation details should be run past tax advisors in your local jurisdiction as needed
Funds can be transferred to IIMA Alumni Association UK as below:
Account Number: 76231759
Bank’s Name & Address:
ICICI Bank UK Plc 45 South Road, Southall UB1 1SWA
Bank Sort Code: 30-01-28
Remittance Comments (if provided by bank): ( Contribution to IIMA Endowment Fund )
Taxation details should be run past tax advisors in your local jurisdiction as needed
Q.3 Whom should I get in touch with after my donation to IIMA Alumni Association London?
After the online payment, please inform Ravi Topno (ravi.topno@gmail.com), Aseem Gupta
(aseemgupt@gmail.com) and Gaurav Jain (jain123@gmail.com), and a copy to
ceo.endowment@iima.ac.in, and dean-aer@iima.ac.in mentioning the purpose of the donation, full-
name and mailing address and if possible, a screenshot of the transfer.
Q.4 How do I claim Tax for my donation?
The receipt will be issued once funds have been received. The UK chapter will be sending out a Gift
Aid form, which the donor is requested to complete and send back to the UK Chapter. This will help
the charity claim tax incentives from the HMRC. Taxation details should be run past tax advisors in
your local jurisdiction as needed.
For Donors in the US
Q.1 I am a donor from the US and how do I take tax benefits after my donation?
For donors in the USA, donations received are tax deductible as a 501(c)(3) Tax ID No.: 22-3749107
(a charitable or not-for-profit organization).
Q.2 What is the bank details for donations to the IIMA Alumni Association USA?
Funds can be transferred to IIMA Alumni Association USA via a Cheque as described below:
| Sr No | Field Name | Details |
|---|---|---|
| 1) | Cheque is to be drawn in favour of |
“IIM-A Alumni Association” with a covering letter clearly specifying the purpose of the donation, the full name and the address of the donor |
| 2) | Mailing Address |
Ritesh Agarwal, 56 Great Oak Dr, Short Hills, NJ 07078. Email address: connect2ritesh9@gmail.com |
Q.3 Whom should I get in touch with after my donation to IIMA Alumni Association USA?
Please inform Tejesh Contractor through email tejeshc@yahoo.com with a copy to
ceo.endowment@iima.ac.in and dean-aer@iima.ac.in mentioning the purpose of the donation, full
name and mailing address If possible, please attach a screenshot of the transfer.
Q.4 How do I claim Tax for my donation to the “Light the Way Forward” Donation Drive?
The contributions would be to 501 c (3) USA (Tax ID No.: 22-3749107) Charity for tax purposes. A
receipt would be sent after your contribution is credited to the bank account. Subsequently, your
contributed funds would be transferred to IIMA. Taxation details should be run past tax advisors in
your local jurisdiction as needed.
Instructions for NRI's & Foreign Citizens
Q.1 Who can contribute to the FCRA account?
Only Citizens of Foreign Countries can contribute to the FCRA account. NRI's cannot contribute to
the FCRA account as per RBI guidelines.
Q.2 I am an NRI and do not have a Bank A/c in India and want to transfer money from my country of residence. How do I contribute?
You can use your credit card, issued abroad, if it has 2 factor authentication, to make a payment
using the payment gateway. If not, you can transfer money to IIMA’s account (in INR) using your
bank’s netbanking or through cheque, SWIFT, NEFT, RTGS. The details of IIMA’s bank account are
given below. If you have an India Pan Card, you will get 100% tax deduction in India. Taxation details
should be run past tax advisors in your local jurisdiction as needed.
For NRIs
If you are an NRI, you can make your payment to IIMA’s Indian Currency Account, using your bank’s Net Banking. If you have an Indian PAN card, you qualify for 100% tax deductions in India.
Details of IIMA’s local currency account are as given below:
Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch: Judges Bungalow Road, Ahmedabad
IFSC: HDFC0000048
For NRIs
If you are an NRI, you can make your payment to IIMA’s Indian Currency Account, using your bank’s Net Banking. If you have an Indian PAN card, you qualify for 100% tax deductions in India.
Details of IIMA’s local currency account are as given below:
Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch: Judges Bungalow Road, Ahmedabad
IFSC: HDFC0000048
Q.3 I am not an Indian. How do I contribute?
You can contribute to IIMA’s FCRA account in your local currency from your bank account through net banking, cheque, SWIFT, NEFT or RTGS. The details of the FCRA account are given below. If you have an Indian PAN card, you will get 100% tax deduction in India.
Q.4 Can citizens/ residents of US and UK contribute to IIMA's account directly, instead of transfering through the respective alumni association?
Yes, you can. You need to transfer to IIMA’s FCRA or local currency account depending on whether you are a citizen or resident of US/UK. However, in that case, you will get tax benefit in India (provided you have an Indian PAN card), not in your country of residence.
Q.5 What are FCRA account details for IIMA?
Details of IIMA’s Foreign Currency Account (FCRA):
Name of the Account Holder: INDIAN INSTITUTE OF MANAGEMENT AHMEDABAD – F.C. ACCOUNT
Account Number: 40069720103
Bank’s Name & Address:
State Bank of India, 11, Sansad Marg, New Delhi 110 001
Branch Code No:691
Swift No.: SBININBB104
MICR Code: 110002087
IFSC Code: SBIN0000691
PAN No. OF IIMA: AAATI1247F
Remittance Comments (if provided by bank):
The foreign inward remittance should invariably contain the following details:
1. FCRA Account number
2. Swift Code
3. Name of the Beneficiary
4. Name of Donor/ remitter
5. Account number of the donor/ remitter
6. Donor/ remitter’s address
7. Donor/ remitter’s Country of Residence
Please inform dean-aer@iima.ac.in and ceo.endowment@iima.ac.in mentioning the purpose of the donation, full name and mailing address and if possible, a screenshot of the transfer.
Name of the Account Holder: INDIAN INSTITUTE OF MANAGEMENT AHMEDABAD – F.C. ACCOUNT
Account Number: 40069720103
Bank’s Name & Address:
State Bank of India, 11, Sansad Marg, New Delhi 110 001
Branch Code No:691
Swift No.: SBININBB104
MICR Code: 110002087
IFSC Code: SBIN0000691
PAN No. OF IIMA: AAATI1247F
Remittance Comments (if provided by bank):
The foreign inward remittance should invariably contain the following details:
1. FCRA Account number
2. Swift Code
3. Name of the Beneficiary
4. Name of Donor/ remitter
5. Account number of the donor/ remitter
6. Donor/ remitter’s address
7. Donor/ remitter’s Country of Residence
Please inform dean-aer@iima.ac.in and ceo.endowment@iima.ac.in mentioning the purpose of the donation, full name and mailing address and if possible, a screenshot of the transfer.
Gateway Related Queries
Q.1 Can cards issued outside of India be used to make payments on the payment gateway?
Debit cards issued outside India will not work. Credit cards issued outside India having 2-layer
authentication will work.
Q.2 Can net banking for bank accounts outside India be used to make payments on the payment gateway?
No, they cannot.
Q.3 Is there any transaction charge for online payment?
No, there are no transaction charges.