Donation To Political party

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CA Vinay Dixit (Querist)
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18 September 2009 If X Co.Ltd.Paid a Donation to Political party Say Amounted To Rs.100000.is donation to political party allowed as a deduction & under what section?

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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18 September 2009 Deduction in respect of contributions given by companies to political parties.

section 80GGB. In computing the total income of an assessee, being an Indian company, there shall be deducted any sum contributed by it, in the previous year to any political party [or an electoral trust].

Explanation.â€”For the removal of doubts, it is hereby declared that for the purposes of this section, the word â€œcontributeâ€, with its grammatical variation, has the meaning assigned to it under section 293A49 of the Companies Act, 1956 (1 of 1956)

Ankur Garg

Ankur Garg (Expert)
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18 September 2009 Also check section 293A of companies act, 1956 to check there is no violation of the companies act, 1956 regarding political contribution.

Regards

CA Vinay Dixit

CA Vinay Dixit (Querist)
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08 October 2009 thanks

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