Whether donations givenby company has to charge to p&l a/c ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2013
please tell me any one
if a company donations given to a trust whether company has to charge this amount to p&l a/c or not? it is allowable deduction u/s
80G . and what is the tax treatment?
if a company donations given to a trust whether company has to charge this amount to p&l a/c or not? it is allowable deduction u/s
80G . and what is the tax treatment?
CA PARAS BAFNA
(Expert)
17 November 2013
Yes , company has to show in P&L A/c.
SANTOSH SAGAR K
(Expert)
17 November 2013
Yes, the Company has to disclose the same in the Statement of Profit and Loss under 'Other expenses' by way of a separate line item.
Eligibility of deduction u/s 80G is not the key factor for deciding the above treatment.
Eligibility of deduction u/s 80G is not the key factor for deciding the above treatment.
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