Deduction for Donation
This query is : Resolved
26 December 2009
sir,
If the Company pays Rs. 300000 in cash to a trust or assocation as donation for poor children.
But the receipt can not be obtained from that trust or assocaiton but they are ready to give it in written in their letter head.
can this be allowed as business expenditure under income tax act?
If the Company pays Rs. 300000 in cash to a trust or assocation as donation for poor children.
But the receipt can not be obtained from that trust or assocaiton but they are ready to give it in written in their letter head.
can this be allowed as business expenditure under income tax act?
26 December 2009
It will not be allowed as business expenditure.IF he discloses on the letter pad that the trust/association is registered and eligible for ded u/s 80G he can get the deduction
26 December 2009
No, Donation is not allowed as business Expenditure.
Moreover any donation above Rs. 500/- should be made by Crossed Cheque and Donee Organisation must have expemtion certificate from IT Dept.
Donation is allowed as deduction under chapter VI A of IT act under section 80 G
Moreover any donation above Rs. 500/- should be made by Crossed Cheque and Donee Organisation must have expemtion certificate from IT Dept.
Donation is allowed as deduction under chapter VI A of IT act under section 80 G
27 December 2009
If Private Organization theri should be any IT Exemption Certificate like 80G,etc,. and if govt.there is always a free way. but in your cash you have to pay by cross cheque above Rs.500/- donation & also organization 80G receipt or in Letterhead with 80G stamp. of the Org.
28 December 2009
Show it as an Advetisement for availing deduction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
