Donation

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rajalakshmirao (Querist)
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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

Ravi Bagaria

Ravi Bagaria (Expert)
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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.

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CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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30 November 2011 Also regulated by companies act

rajalakshmirao

rajalakshmirao (Querist)
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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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