An company which incurred loss for past 3 preceding financial year can make contribution to NGO?
is it permitted under companies act, 2013 or other relevant law
1 Replies
Nikhil Kaushik
(Fellow CA)
(85740 Points)
Replied 05 April 2024
it is not restricted. however, Income-tax department keeps track of such cases. In 2023, they issued notices to thousands of donors who donated to NGOs disproportionate to their incomes.
https://economictimes.indiatimes.com/news/india/income-tax-department-sends-notices-over-donations-to-charitable-trusts/articleshow/99570518.cms?from=mdr
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
