Whether donation is liable to FBT
This query is : Resolved
12 June 2009
Our clent makes donations which are covered under section 80G - 50 percent eligibility slab. They are paying FBT on the full amount under "GIFTS". Are these liable to FBT & if, yes, then whether on full amount or amount net of deduction under section 80G.
Aditya Maheshwari
(Expert)
12 June 2009
No donation is not liable to FBT. It is not an allowable business expenditure. Only 50% u/s 80G subject to restrictions of 10% of income is allowable
Ankur Garg
(Expert)
13 June 2009
Agree with Aditya
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