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Provision entry can be used in tally for society regn.? help

This query is : Resolved 
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(Querist)
21 June 2016
Our Society is registered under the Travancore Cochin Literary, Scientific & Charitable societies Regn. Act. I want to know I can put provision entry in Tally on month end for expenses ? Pls. reply
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Rupesh Jain

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Rupesh Jain (Expert)
21 June 2016 you can enter prov entery but under the income tax act you can get deduction on use of the fund not on the base of prov entry. you have to use 85% of the fund received .
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