Decuction U/S 80GGB
This query is : Resolved
21 June 2010
Dear Members,
Can an Indian Company get Deduction U/S 80GGB while making donation to Political Party registered U/s 29A of the Representation of People Act,1951 or Electoral Trust and also it charges the same amount of donation to the Profit an Loss Account? Can the company avail the double benefit in accordance with above situation ?
or the company is only allowed to avail single benefit.
Regards....
Sanjay Banik
PCC Student
Kolkata
Can an Indian Company get Deduction U/S 80GGB while making donation to Political Party registered U/s 29A of the Representation of People Act,1951 or Electoral Trust and also it charges the same amount of donation to the Profit an Loss Account? Can the company avail the double benefit in accordance with above situation ?
or the company is only allowed to avail single benefit.
Regards....
Sanjay Banik
PCC Student
Kolkata
21 June 2010
No the company shall be allowed to claim only one exemption. In no case IT SHALL CLAIM THE DOUBLE BENEFIT. Even no expense can be claimed twise. In Legal phrase "You can do something indirectly which you are not allwoed to do directly"
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