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Anonymous donations

vishalakshi (student) (62 Points)

14 October 2012

May i Please Know beyond which amount should i keep the records compulsorily for anonymous donations

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5 Replies

praveen (Chartered Accountant) (6971 Points)
Replied 14 October 2012

if the amount exceeds rs.20000

gbalakrishnan (owner) (1373 Points)
Replied 14 October 2012

sec 66 c helps as unaccounted money and unaccounted expenditure!

gbalakrishnan (owner) (1373 Points)
Replied 14 October 2012

Unaccounted moneys are no sin gor income tax dept per law so too unaccounted expenditure but tax is happy it gets its cut by its great tax system!

gbalakrishnan (owner) (1373 Points)
Replied 14 October 2012

it is no sin at all to have unaccounted moneys as also unaccounted expenses as all politicians have may be because of that govt does not want to make unaccounted moneys as sin but as a great virtue. so enjoy unaccounted earnings is the message the govt gives to people, so never worry friend, donations are one such!