Donation by company


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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2016 Dear Experts,
company has made the payment Rs. 1 lacs toward construction of tample plz guide weather company can avail deduction u/s 80g or not...

Regard
Keshav Jain

Kaustuv (Expert)
17 February 2016 Hello,

Benefits of Section 80G is available to a company. But the donee needs to be a an approved institution under Income Tax Act so that issue a Section 80G exemption certificate.


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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2016 sir.. is it mandatory the donee should be registered under 80g to avail exemption..

Kaustuv (Expert)
17 February 2016 Yes, it is mandatory for the donee to be registered u/s 12A of the Income Tax Act so that it can issue the certificate u/s 80G

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2016 sir. i think if donee issue 80g certificate then donar can avail 100% exemption na..

Kaustuv (Expert)
17 February 2016 it depends. Mostly it will be 50% not 100%.

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2016 sir. without 80g certificate can we avail deduction like 10% of gross adjusted income..


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