Donation Receipt u/s 80G
This query is : Resolved
17 November 2024
Dear Sir,
Greetings!
I have been associates with one of the Education Institute. One of donors inform that he is director in his company and he wants to donation some amount u/s 80G. He will issue the cheque from his personal account however, he provided his company PAN no and suggested to record the donation in favour of his Company and donation receipt should be issued in favour of his company.
My quary is whether
donation receipt be issued in favour of Company although the cheque is given by director from his personal account.
What is Income Tax Rules says about recording of donation u/s 80G. i.e. donation receipt should prepare as per name given in cheque or name given in PAN No.
Should Institution take any declaration from the donor in case of receipt issued in his Company name although the cheque issued from personal account.
I seek valuable feedback from the experts..
Regards
Greetings!
I have been associates with one of the Education Institute. One of donors inform that he is director in his company and he wants to donation some amount u/s 80G. He will issue the cheque from his personal account however, he provided his company PAN no and suggested to record the donation in favour of his Company and donation receipt should be issued in favour of his company.
My quary is whether
donation receipt be issued in favour of Company although the cheque is given by director from his personal account.
What is Income Tax Rules says about recording of donation u/s 80G. i.e. donation receipt should prepare as per name given in cheque or name given in PAN No.
Should Institution take any declaration from the donor in case of receipt issued in his Company name although the cheque issued from personal account.
I seek valuable feedback from the experts..
Regards
17 November 2024
If the donation is from any resident Indian, ensure the cheque is drawn from the donor's account or an authorized account. Get PAN and authorization letter from Director; & issue receipt in the Name of company having PAN.
18 November 2024
Many Thanks Sir... for your prompt response.
Message likes :
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18 November 2024
You are welcome.
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