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Payment Receipt Acknowledment

Others 433 views 10 replies
it is necessary to issue payment receipt acknowledgement for grant received to NGO
Replies (10)

If the government or someone is giving a grant, one has to keep the payment receipt. Sometime one can avail tax benefit. 

If a giver doesn't dimand then it is still necessary to issue payment acknowledgement receipts

I mean, the bill and invoice is necessary. Whether if you hand it to the person whom you have donated or not does not matter. For your tax purposes as a donor, you’ll maintain the receipt. Bank account transfer details is also important.

We are receiver so it is necessary for us to issue payment receipt acknowledgement.

Sry, if your receiver, nothing to worry about. The consumer laws are applicable

I want to know only one thing that can we issue payment acknowledgement receipt when he dimand to us.

Yes. It isn’t mandatory by law.

The government periodically releases a list of approved charitable institutions and funds that are eligible to receive donations that qualify for deduction. The list includes trusts, societies and corporate bodies incorporated under Section 25 of the Companies Act, 1956, as non-profit companies.

 

if your ngo falls under that, receipt is mandatory ortherwise not required. But I’m not sure on what websites it is displayed.

Yes

You should issue payment receipt

How can you receive without issue payment receipt
Dear jitendra when we will buy petrol then always petrol pump dealer gives bill to you, you buy something seller always gives a bill to you.


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