Donation To Political party
This query is : Resolved
CA Vinay Dixit
(Querist)
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
(Expert)
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.—For the removal of doubts, it is hereby declared that for the purposes of this section, the word “contributeâ€, with its grammatical variation, has the meaning assigned to it under section 293A49 of the Companies Act, 1956 (1 of 1956)
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.—For the removal of doubts, it is hereby declared that for the purposes of this section, the word “contributeâ€, with its grammatical variation, has the meaning assigned to it under section 293A49 of the Companies Act, 1956 (1 of 1956)
Ankur Garg
(Expert)
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
Regards
CA Vinay Dixit
(Querist)
08 October 2009
thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Accounting treatment of AMC alongwith the purchase of Laptop
- Capital Gail Exemption Certificate
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
