08 June 2010
Is there any restriction for a company to make donations to a Trust in which one or more of its Directors are Trustees. Pls. enlighten sighting relevant provisions? Pls. treat it urgent
08 June 2010
Covered under section 293(d) of the Companies Act. Donation to Charitable Trust and other fund not directly ralating to the business of the Company or the welfare of the employees can not exceed 50000/- or 5% of its average profits as determined in accordance with the provisions of section 349 and 650 during the three fiancial year immediately preceding, whichever is greater
CAclubindia
