donation treatment
Narender kumar (student) (84 Points)
07 January 2018
can petrol pumps reflect the donations given to gosala , under donation head , as indirect exp. in their P&L A/C ?
Narender kumar (student) (84 Points)
07 January 2018
satish
(teaching)
(2046 Points)
Replied 07 January 2018
in your case, book value of petrol pumps can take it as donations.
Dipanshu arora
(CA Final Student)
(418 Points)
Replied 08 January 2018
Same would be add back while computing tax payable and shall allow as deduction later on.
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