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Tax on NPO'S


bsai partish   11 August 2020

bsai partish

 4 likes  107 points

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in order to escape tax from concerned authority NPO'S record the general donation in balance sheet instead of recording in income and expenditure a/c.
is this true?

CA KARAN SINGH (CA in Practice)     12 August 2020

CA KARAN SINGH
CA in Practice 
 24 likes  612 points

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No, Only Corpus Donation can be taken directly to the Balance Sheet. General Donation will be the income of NPO and will be charged to tax accordingly.

But if NPO is registered under the Income Tax Act. It can claim a deduction as per different provision of Income Tax Act.


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