As per the revised tax exemption act, effective April 1, 2017, donations above Rs 500 to DKMS-BMST will be eligible for 50% tax exemption under Section 80G of the Income Tax Act. The exemption is calculated by reducing the donated amount from your taxable salary.
(Example: if your taxable income per year is Rs 200,000 and you make a donation of Rs 5,000 then your net taxable income will become Rs 197,500. Your tax will now be calculated on this new amount basis the prevailing tax rates)
