Can I give 80G receipt for unsecured Loan
This query is : Resolved
Balaji H P
(Querist)
16 April 2024
Namaste,
We represent an educational and charitable trust duly registered under sections 80G and 12A of the relevant statutes. Recently, an individual extended to us an unsecured loan, characterized by its interest-free nature and with a repayment timeline of 24 months. I seek clarification regarding the permissibility of issuing an 80G receipt to the lender in acknowledgment of the loan extended.
We represent an educational and charitable trust duly registered under sections 80G and 12A of the relevant statutes. Recently, an individual extended to us an unsecured loan, characterized by its interest-free nature and with a repayment timeline of 24 months. I seek clarification regarding the permissibility of issuing an 80G receipt to the lender in acknowledgment of the loan extended.
Nikhil Kaushik
(Expert)
16 April 2024
what clarification you need here. Its a loan. Not a donation.
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