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
Nikhil Kaushik
(Fellow CA)
(85163 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
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