For a trust, donation received for specific fund after tds
This query is : Resolved
10 November 2011
What should be the accounting and taxation of the Donation received for a trust??
Should it be transferred to the p & L account?
Should it be transferred to the p & L account?
15 May 2012
It is treated as income and transferred to income and expenditure account.
In case of a trust Income & Expenditure Account is prepared not P&L Account.
In case of a trust Income & Expenditure Account is prepared not P&L Account.
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