Donation tax
This query is : Resolved
15 February 2020
I want to donate fund from my propriator account
Have need to pay any income tax on donated amount?
Have need to pay any income tax on donated amount?
15 February 2020
no ........income tax have to pay only for the income you earned.
if you donated to registered trust you can avail deduction available.
if you donated to registered trust you can avail deduction available.
16 February 2020
If you pay donation form your proprietorship account, then such donation shall be disallowed if it is debited to Profit & loss account of the business. However, donation shall be allowed as deduction under section 80G if the donee is a registered entity under section 80G.
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