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Donation treatment in npo

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(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?
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Sandeep Dharar

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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.

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Nikhil Kaushik

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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
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Rupesh Jain

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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.
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