Donation treatment in npo

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Akshay kabra (Querist)
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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

Sandeep Dharar (Expert)
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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

Nikhil Kaushik (Expert)
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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

Rupesh Jain (Expert)
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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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