CCI Online Learning
What do you want to learn today?
     
CIBIL

Upgrad

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Payment Receipt Acknowledment


Mangal Singh Khinchi (Kota)     20 November 2020

Mangal Singh Khinchi
Kota 
 7 likes  186 points

| My Other Post

it is necessary to issue payment receipt acknowledgement for grant received to NGO

avater

yasaswi gomes   20 November 2020

yasaswi gomes

 123 likes  2075 points

View Profile | My Other Post

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

avater

Mangal Singh Khinchi (Kota)     20 November 2020

Mangal Singh Khinchi
Kota 
 7 likes  186 points

View Profile | My Other Post

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

avater

yasaswi gomes   20 November 2020

yasaswi gomes

 123 likes  2075 points

View Profile | My Other Post

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.

avater

Mangal Singh Khinchi (Kota)     20 November 2020

Mangal Singh Khinchi
Kota 
 7 likes  186 points

View Profile | My Other Post

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

avater

yasaswi gomes   20 November 2020

yasaswi gomes

 123 likes  2075 points

View Profile | My Other Post

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

avater

Mangal Singh Khinchi (Kota)     20 November 2020

Mangal Singh Khinchi
Kota 
 7 likes  186 points

View Profile | My Other Post

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

avater

yasaswi gomes   20 November 2020

yasaswi gomes

 123 likes  2075 points

View Profile | My Other Post

Yes. It isn’t mandatory by law.

avater

yasaswi gomes   20 November 2020

yasaswi gomes

 123 likes  2075 points

View Profile | My Other Post

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.

JATINDER KUMAR (Accountant)     20 November 2020

JATINDER KUMAR
Accountant 
 189 likes  2647 points

View Profile | My Other Post

Yes

You should issue payment receipt

How can you receive without issue payment receipt

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Bajaj Finserv


Trending Tags