Donation in cash

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 HOW MUCH OF DONATION CAN BE RECEIVED BY 1-TRUST 2- NGO WHAT ARE THE TAX INCIDENCES

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

18 December 2014 A new clause has been added to sub-section (5C) of Section 80G vide Finance Bill 2012 where no deduction shall be allowed under this section in respect of donation of any sum exceeding ten thousand rupees, unless such sum is paid by any mode other than cash.
As per the new sub-section (5D) to Section 80G any payment exceeding a sum of ten thousand rupees shall only be allowed as a deduction if such sum is paid by any mode other than cash.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

18 December 2014 While receiving the donations, try to follow KYC norms of donor. (Of course for SECRET donations...e.g. Tirupati Hundi. KYC clause is not applicable)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

18 December 2014 agreed with seetharamji's view.............

Rupesh Jain

Rupesh Jain (Expert)
Follow

18 December 2014 in my opinion donation will received in cash but u/s 80G for donor it is changed that he/she cannot give the cash exceeds rs 10000/- if give cash exceeds rs.10000/- then no deduction allowed to donor for that donation. it is safe side for both to accept the donation in cash upto rs. 10000/-

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

velichety.l.narasimharao

Akhila Ajayan

Amit Bagla

GIRISH K SATTI

Ravi

Subscribe Now

Donation in cash

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

CA Final

GST CONSULTANCY

Article Assistant

Manager- Finance and Compliance