Friends,
Section 293(1)(e) speaks about donations to charitable and other funds not related to the business of the Company and welfare of the employees.
Does this mean that the Company can give donations only to funds (definition not provided in Companies Act) and not to individuals (either employee or otherwise). Is there any debate if the fund coudl be approved or not either under IT Act or Societies Registration Act or Indian Trusts Act.
Regards,.
CAclubindia
