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Accounting of donation in kind
How donation in kind is recorded in accounts ?
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Donation of any nature to be treated as expense but there are some specific donations which are treated seperately.
Mode of donation eligible for deduction under section 80G:
Only donations made in the form of cash or cheque are eligible for a tax deduction. However, donations made in cash do not qualify for a tax deduction exceeding Rs. 10,000. Donations made in kind do not qualify for any tax deduction.
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