An company which incurred loss for past 3 preceding financial year can make contribution to NGO?
is it permitted under companies act, 2013 or other relevant law
1 Replies
Nikhil Kaushik
(Fellow CA)
(86641 Points)
Replied 05 April 2024
it is not restricted. however, Income-tax department keeps track of such cases. In 2023, they issued notices to thousands of donors who donated to NGOs disproportionate to their incomes.
https://economictimes.indiatimes.com/news/india/income-tax-department-sends-notices-over-donations-to-charitable-trusts/articleshow/99570518.cms?from=mdr
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