10 January 2013
Can a individual donates a part of his business income to a charitable institution and which is owned by the same institution? Can he claim a deduction u/s 80G while filing the company's return of income?
Guest
Guest
(Expert)
10 January 2013
Deduction will be available. A proprietary firm and a charitable trust are two separate entities for the purpose of Income Tax.
So if all the conditions of sec. 80G are fulfilled then deduction of donation will be available.