Donation
This query is : Resolved
rajalakshmirao
(Querist)
30 November 2011
Dear experts,
If co.,has its own charitable institution i.e.donating large amts can co., comes under exemption in I.T. or not
thks in advance
If co.,has its own charitable institution i.e.donating large amts can co., comes under exemption in I.T. or not
thks in advance
Ravi Bagaria
(Expert)
30 November 2011
The company can't have it's own charitable institution. You have to have a separate registered trust/society/section 25 company.
If your talking about a company giving donation to another organisation the n u will get deduction u/s 80g.
If your talking about a company giving donation to another organisation the n u will get deduction u/s 80g.
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CA Ayush Agarwal
(Expert)
30 November 2011
Also regulated by companies act
rajalakshmirao
(Querist)
30 November 2011
tks and sorry for my question is confused u. For ex. x has business & xy co.has charitalbe institution and x paid donation to xy co.,and also x is one of the owner of (i.e.trustee)xy co., than what happens for tax lability?. if he is not belongs to chartiable institution than he get exemption?
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