IIT Bombay launched its first-ever annual fundraising campaign in India, Cherish IIT Bombay 2021. As per information shared by the IIT, the funds will be used for the creation of world-class laboratory complexes, modernization of lecture halls and continuation of awards to attract and retain faculty. <br />''<br />''It says, donations made to IIT Bombay by corporate bodies and individuals are 100% tax-deductible under section 80G of the Indian Income Tax Act.<br />''<br />