Payment Receipt Acknowledment
Mangal Singh Khinchi (Kota) (259 Points)
20 November 2020Mangal Singh Khinchi (Kota) (259 Points)
20 November 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 November 2020
If the government or someone is giving a grant, one has to keep the payment receipt. Sometime one can avail tax benefit.
Mangal Singh Khinchi
(Kota)
(259 Points)
Replied 20 November 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 November 2020
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.
Mangal Singh Khinchi
(Kota)
(259 Points)
Replied 20 November 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 November 2020
Sry, if your receiver, nothing to worry about. The consumer laws are applicable
Mangal Singh Khinchi
(Kota)
(259 Points)
Replied 20 November 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 November 2020
Yes. It isn’t mandatory by law.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 20 November 2020
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)
(3662 Points)
Replied 20 November 2020
Mangal Singh Khinchi
(Kota)
(259 Points)
Replied 21 November 2020