Donation for corpus fund

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2014 Whether payment made to religious trust for corpus fund can be claimed as " Donation u/s80G (5)??we have recd receipt which contains the certificate no...so can we claim as deduction u/s 80G(5)?

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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28 July 2014 YES , DONATION IS ELIGIBLE FOR DEDUCTION U/S 80 G , WEATHER MADE TOWARDS CORPUS .

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2014 thanks Sunilbhai...Can u please show me it in the Act where it is mentioned??

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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30 July 2014 pls refer to sec 80 G (2)
a any sum paid by the assessee in the previous year as donation to.......

the act has not made any distinction between nature of donation. hence it does not make any difference to donor , wheather donation is towards corpus or otherwise, as far as condition laid down u/s 80 G (5) is fulfilled , he will get the deduction.

however , treatment of corpus donation is different in the books of the trust. pls refer to sec 12 (1), ''which states that contribution made with a specific direction that they shall form the part of corpus of trust" shall not be income of the trust hence they are treated as capital receipt.

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