donation and charity

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deepika

deepika (Querist)
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01 April 2011 is any donation or charity paid not covered under 80g allowed under income tax..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 April 2011 U/s 80G , donations to certain funds and charitable institutions only, are eligible for deduction. These includes funds set up by the Governments, both state and central for specific public welfare purposes.

Hence all donations are not allowable as deduction U/s 80G.

deepika

deepika (Querist)
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03 April 2011 no sir..my question was different..what i want to ask is that if a co.pays donation which is not allowed under sec 80g.. then can it be allowed while doing tax audit..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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05 April 2011 It can not be deducted from Gross Total Income under Section 80G.

However, looking towards business expediency if company incurs such type of expenditure, that may be allowed in certain cases. However, in that case in spite of the word "donation" other name like Navratri Festival Contribution etc... may be used.

deepika

deepika (Querist)
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07 April 2011 ok.....thanks sir...i'll be grateful for ur reply....

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