SACHIN AROLKAR, Goa Carbon Ltd (MANAGER FINANCE & ACCOUNTS) (61 Points)
11 April 2017Dear Sir, I want to know wheather Donation receivable (Promised to give by Individual person/Company/Government etc.) for Associations/Clubs for organising an event can be booked as receivble in the books of accounts if same is not received as on 31st March.
Thanks and regards,
SACHIN A.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(173088 Points)
Replied 11 April 2017
Generally not, unless the event already materiallized in this year.
Dixit
(CA Final)
(2405 Points)
Replied 12 April 2017
| Originally posted by : Dhirajlal Rambhia | ||
 |
Generally not, unless the event already materiallized in this year. |  |
Agree with sir, since amount of donation not received. Income recognized only when it is actually received.
SACHIN AROLKAR, Goa Carbon Ltd
(MANAGER FINANCE & ACCOUNTS)
(61 Points)
Replied 12 April 2017
Thank you sir for answering my querry.
Regards,
SACHIN AROLKAR
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
