Accounts head

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 March 2011 hi,

we have made donations to help age india in which account head under it comes pls tell me

regards,

kiran
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Neeraj Bansal CA

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Neeraj Bansal CA (Expert)
16 March 2011 well this is a doantion come under the preview of Profit & loss as donations ( eligible deduction)
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
16 March 2011 doantion not allowed as expenditure in p&l a/c.
donation allowed as deduction under section 80G.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 March 2011 Support Neeraj Ji since payment to Helpage India is generally covered under section 35AC of the Income tax Act,1961 meaning thereby it is an eligible expenditure while computing income under the head PGBP.
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 March 2011 thank u very much for your valuable reply

kiran

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