Are donation refundable?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2013
If a charitable trust gets donation for 10 years from same party and refund all donation recd for a period of 10 years after 20years. What will be tax liablity, etc...
Will this type of contribution considered as donation and eligible for 80G or considered as long term loan..without interest
Will this type of contribution considered as donation and eligible for 80G or considered as long term loan..without interest
Dintakurthi Tirumala
(Expert)
19 February 2013
It is not donation because donation means non-refundable nature and payment. So you shall treat it as long term loan without interest because of vendor for charity purpose he can give interest free loan.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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