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Sponsorship Receipts

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(Querist)
05 June 2011 In educational institutions they received sponsorship for conducting sports then how it should be treated in books of accounts?


Bhargav.B
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
10 October 2011 The Sponsorships received should form part of income of the educational institute.

The same should be booked in the Income A/c head in the nomenaclature of "Sports Sponsorship Income"

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