Donation treatment in npo
This query is : Resolved
Akshay kabra
(Querist)
18 April 2014
what is the treatment of specific donation received in cash by npo school.... and what is the further treatment of expenses incurred for that purpose?
Sandeep Dharar
(Expert)
18 April 2014
Donation is income for the school & should b treated like that. If it is for Capital Fund like a part of school is under construction & donation received for that purpose then it should be capitalized.
Nikhil Kaushik
(Expert)
18 April 2014
the specific donation is credited to corpus fund. any expense incurred is debited to the corpus fund instead of income and expenditue a/c
Rupesh Jain
(Expert)
18 April 2014
when a donation received for specific purpose then this donation amount not your income .
when you exp. make for this specific then you debit/withdraw amount from that donation.
when you exp. make for this specific then you debit/withdraw amount from that donation.
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