10 October 2012
dear sir/madam, my name is kumaraswamy.matta.pursuing company secretary final.here my doubt is does company give any contributions to political parties? if company gives any contributions to political parties, how much it will give to political parties?as well as a private limited company will give any contribution to any political party then how much it will pay ? like wise if partnership firm,and proprietoryship firm will give pay to political parties then how much will pay? sir i have read in my tax laws if any individual or HUF give any contribution to any political party which that amount does not exceed 50,000/- rupees.and maintain account books as well as which a political party received amount the party should maintain records. above the statement is it right or not? statement which i have studied in (income which donot part form of total income) chapter under section 10 .would you please give very brief explination?
11 October 2012
For Co.:- Sec 293A of Comapnies Act. 1. Co should be in existence for atleast 3 year. 2. Co should not be a govt co. Amount of contribution:- Maximum ceiling is 5% of avg profits of the last 3 year determined as per sec 349 and 350.
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