when we are doing the college audit.,
if for that college a company came for some social awareness programmes and they also reimbursed the money spent on the programme to college ...
if the amount spent on the programme exceeds 50k then TDs to be deducted by the college ...??
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College audit
Replies (1)
Donations for specified funds and organizations, in case the amount is more than 10% of the total gross income, are eligible for tax deductions. There are 50%, 10% of gross income, 100% deductions. Limits. So, if the school is a trust, you can avail this facility. But no further info is available online
https://www.bankbazaar.com/tax/tax-deductions-for-donations.H T M L
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