Donation for corpus fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2014
Whether payment made to religious trust for corpus fund can be claimed as " Donation u/s80G (5)??we have recd receipt which contains the certificate no...so can we claim as deduction u/s 80G(5)?
28 July 2014
YES , DONATION IS ELIGIBLE FOR DEDUCTION U/S 80 G , WEATHER MADE TOWARDS CORPUS .
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2014
thanks Sunilbhai...Can u please show me it in the Act where it is mentioned??
30 July 2014
pls refer to sec 80 G (2)
a any sum paid by the assessee in the previous year as donation to.......
the act has not made any distinction between nature of donation. hence it does not make any difference to donor , wheather donation is towards corpus or otherwise, as far as condition laid down u/s 80 G (5) is fulfilled , he will get the deduction.
however , treatment of corpus donation is different in the books of the trust. pls refer to sec 12 (1), ''which states that contribution made with a specific direction that they shall form the part of corpus of trust" shall not be income of the trust hence they are treated as capital receipt.
a any sum paid by the assessee in the previous year as donation to.......
the act has not made any distinction between nature of donation. hence it does not make any difference to donor , wheather donation is towards corpus or otherwise, as far as condition laid down u/s 80 G (5) is fulfilled , he will get the deduction.
however , treatment of corpus donation is different in the books of the trust. pls refer to sec 12 (1), ''which states that contribution made with a specific direction that they shall form the part of corpus of trust" shall not be income of the trust hence they are treated as capital receipt.
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