02 August 2010
First of all it would be added back in the Income of Profits and Gains of Business or Profession if debited to Profit and Loss account.
A deduction would be allowable only if the charitable trust is registered with the Commissioner of Income - Tax and approval has been granted (a certificate is issued for the purpose of section 80G).
A 50% of donation is eligible for deduction subject to the 10% of gross total income.
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