Dear 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.
Generally not, unless the event already materiallized in this year.
| Originally posted by : Dhirajlal Rambhia | ||
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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.
Thank you sir for answering my querry.
Regards,
SACHIN AROLKAR
CAclubindia
