Accounting treatment

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Raj k (Querist)
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14 September 2010 F.y. 0809 donation is paid of rs 10k. And same added back in computation.in f.y. 0809 out of 10k 5k cheque return. How entry pass in books. And treatment in computation.

Shudhanshu Agrawal

Shudhanshu Agrawal (Expert)
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15 September 2010 Please mention the treatment you did for donations in the F.Y. 2008-09. Also mention the type of assessee.

Raj k

Raj k (Querist)
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16 September 2010 in f.y.0809 donation of rs.10k is added back in computation for that year.& assesee is pvt.ltd.

shakuntala chhangani

shakuntala chhangani (Expert)
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24 September 2010 Hi Raj, In case of pvt. co., Donation was disallowed and therefore added back in computation. So no treatment is required in computation as it was already disallowed previously.
As far as the return of cheque is concerned, assuming it in the same year, pass a/c entry as :
Bank A/c Dr.
To Donation A/c
If it is returned in the next financial year then it will be prior period item
Regards, CA Shakuntala Chhangani

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