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Donation to political party

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(Querist)
17 May 2014 Experts,

A company has given donation to a political party around 1 crores. what are the various accounting treatment to be done regarding presentation in P&L a/c as well as if there is to give additional info in Notes to Balance-sheet?
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Sandeep Dharar

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Sandeep Dharar (Expert)
17 May 2014 It is fully allowable expenditure. Book it in P&L Account as donation n u can also claim it at the time of filing ITR.
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