Donation paid in cash more than rs. 10000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2016
what will be treatment under income tax while computing income tax for cash given as a donation more than 10 K in cash.
29 April 2016
80 G exemption not available for donation in cash exceeding 10 K.
29 April 2016
you can not take deduction for making donation for exceeds Rs.10000 in cash.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2016
DEAR SIR,
i can not avail benefit of 80 G but whether it can be added in business income while computing income tax .
i can not avail benefit of 80 G but whether it can be added in business income while computing income tax .
29 April 2016
You can not claim deduction if donation in cash more than 10 thousands.
In other cases for claiming the deduction, the donor is also required to furnish a proof of
payment. A stamped receipt is issued by the recipient trust in this regard, details of which
should be mentioned by the taxpayer while filing his Income Tax Return.
The receipt should necessarily mention the following details
1. The name and address of the trust
2. The name of the donor
3. The amount donated (mentioned in words and figures)
4. The registration number of the trust, as given by the income tax department u/s 80G
along with its validity
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Disclaimer - Before making any decisions do consult the experts. We do not take any responsibility for misrepresentation or interpretation of act or rules. Neither we nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on.
In other cases for claiming the deduction, the donor is also required to furnish a proof of
payment. A stamped receipt is issued by the recipient trust in this regard, details of which
should be mentioned by the taxpayer while filing his Income Tax Return.
The receipt should necessarily mention the following details
1. The name and address of the trust
2. The name of the donor
3. The amount donated (mentioned in words and figures)
4. The registration number of the trust, as given by the income tax department u/s 80G
along with its validity
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Disclaimer - Before making any decisions do consult the experts. We do not take any responsibility for misrepresentation or interpretation of act or rules. Neither we nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on.
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