Donation in cash

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Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 HOW MUCH OF DONATION CAN BE RECEIVED BY 1-TRUST 2- NGO WHAT ARE THE TAX INCIDENCES

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 December 2014 A new clause has been added to sub-section (5C) of Section 80G vide Finance Bill 2012 where no deduction shall be allowed under this section in respect of donation of any sum exceeding ten thousand rupees, unless such sum is paid by any mode other than cash.
As per the new sub-section (5D) to Section 80G any payment exceeding a sum of ten thousand rupees shall only be allowed as a deduction if such sum is paid by any mode other than cash.

Amol S Joglekar

Amol S Joglekar (Expert)
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18 December 2014 While receiving the donations, try to follow KYC norms of donor. (Of course for SECRET donations...e.g. Tirupati Hundi. KYC clause is not applicable)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 December 2014 agreed with seetharamji's view.............

Rupesh Jain

Rupesh Jain (Expert)
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18 December 2014 in my opinion donation will received in cash but u/s 80G for donor it is changed that he/she cannot give the cash exceeds rs 10000/- if give cash exceeds rs.10000/- then no deduction allowed to donor for that donation. it is safe side for both to accept the donation in cash upto rs. 10000/-