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Donations

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(Querist)
18 December 2012 Dear All

Can a private company make charitable donations . Is their any rules and regulations which should should be followed.
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Ajay Mishra

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Ajay Mishra (Expert)
18 December 2012 Hi


Read section 293(1)(e) of the Companies Act, 1956. It says Rs.50000 or 5% of its average net profit calculated under section 349 and 350.
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