Kerala floods: Paytm collects INR 30 crores in contributions in under four days

Every contribution that was made or will be made towards ‘Kerala CM’s Distress Relief Fund’ on the digital wallet is completely Tax exempt under Section 80G (2) of the Income Tax Act 1961.

India's leading e-commerce payment system and digital wallet firm Paytm have received contributions of over INR 30 crores from 12 lakh users, in just four days. Launched on 15 August, the relief collection effort on Paytm was initiated to help the flood victims in Kerala, which has been hit by the worst floods in the last 100 years.

"We launched our relief collection effort on Paytm on 15th August, late evening. We have received contributions of over 30 crores from 12 lakh users," till now, said a blog post by the company.

Every contribution that was made or will be made towards 'Kerala CM's Distress Relief Fund' on the digital wallet is completely Tax exempt under Section 80G (2) of the Income Tax Act 1961, Paytm told.

We are happy to share that we have crossed INR 30 Crore in contributions in under 4 days, from over 12 lakh Paytm users for #KeralaFloodRelief 🙏Let's keep going.#IndiaForKerala 🇮🇳

— Paytm (@Paytm) August 20, 2018

"We do not charge you or the Government any fee or transaction charge on contributions/donations made on Paytm. In fact, Paytm pays some fees to various banks on each card payment and that can go as high as 2 percent," the post further added.