A Pvt. Ltd. company has paid donation to charitable trust of Rs. 1,00,000 for which 50% deduction viz 50,000 is allowed by the IT act. Now company's
Net Profit as per P&L a/c. - 6,00,000
What will be its taxable income? My Answer is
Net Profit- 6,00,000
Add : Donation paid- 1,00,000
7,00,000
Less : Donation
allowed u/s 80G (-) 50,000
Taxable Income 6,50,000
is that correct? Please confirm
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