sanjay sukhadiya (proprietor) (36 Points)
01 December 2011Dear all
I would like to know the Income Tax provision of the following case:
Mr. X is proprietor of ABC firm and he is also a Trustee of XYZ Trust.
Mr. X give donation from his proprietory business to XYZ Trust (having 80G certificate )in which is he is trustee.
So my Question is whether Mr.X can claim exemption of Donation from his firm?
if not what are the other remedies?
CS RAJESH C.CHOUDHARY
(ASSISTANT MANAGER)
(14607 Points)
Replied 01 December 2011
Firm is seperate from the trust. In my opinion he can claim exemption u/s 80G for the firm.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 01 December 2011
Agreed wit rajesh...
Gaurav Gupta
(Manager - Account & Finance)
(446 Points)
Replied 02 December 2011
Agreed from Mr. Rajesh.
RAJAT MODI
(CA)
(51 Points)
Replied 02 December 2011
If individual mr. X is paid the amount of donation from his pocket than can he claim the amount of deduction of donations ???
Ravi Bagaria
(Manager Finance)
(67 Points)
Replied 02 December 2011
Yes. He can pay give the donations in the capacity of an individual.
suchit shah
(Dy. Manager(Finance & Accounts))
(208 Points)
Replied 02 December 2011
Yes he can very well claim the deduction U/s 80G...n if it is out of his pocket i mean if he has paid cash for the same then he has to give justification of the same when asked by the department.........
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