FNB accused of colluding with politicians
By Thabo Makwakwa
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DURBAN - FIRST National Bank recently issued a notice of termination of the accounts of whistle-blower Siphokazi Ndudane, the former deputy director-general at the Department of Agriculture, Forestry and Fisheries (DAFF).
Ndudane has accused FNB of colluding with politicians to target and close her accounts after she exposed corruption within the department.
In a brief letter to Ndudane, the bank indicated that “after careful consideration it had elected to exercise its contractual right to terminate its banking relationship with Ndudane due to the associated reputational and business risks”.
The bank declined to provide precise details on its decision to close the accounts, stating that it was within its rights to terminate anyone’s account.
Updated Dec 21, 2020 | 07:19 IST
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act Know how much tax benefit you will get against donations under section 80G
New Delhi: As we near the last quarter of 2020/21, here s a look at how best to review your tax savings and take steps, if needed, to add that extra bit of money in your pocket.
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations, however, are not eligible for deductions under section 80G. Only donations made to prescribed funds qualify as a deduction. This deduction can be claimed by any taxpayer – individuals, company, firm or any other person.