RECEIPT FOR DONTAION RECEIVED IN KIND
This query is : Resolved
24 September 2020
DEAR SIRS :: I am an active member of registered RWA in New Delhi and RWA dutifully making receipts for all cash / cheque received...... My query is (1) In which head of account amount should be credited if a person gives cash/cheque over and above his yearly fixed subscription (2) How to make receipt for materials i.e. sign boards, chairs, tables, LED, computer systems etc. donated by individuals to RWA... Kind Regards
24 September 2020
Account it as donation considering it reasonable value. No tax payable on such donation not exceeding Rs 50,000 in a year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Form 27Q Correction statement taking too long to update on IT Portal
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
