dear all,
one of my client is receiving voluantry donations from verious person as they are running medical colleges on cherity basis.
i want to know the tax treatment on the same and how the same will be shown in the Balance Sheet.
thanks in advance.
take care
If it is corpus donation means money is giving for purpose then it is exempt ...
otherwise 85% has to be applied for purpose it is built
or there is an option of utililising unutilised amount in specified securities u/s11(5)
for more refer sec 11
Shaswat initial support private limited
Ahmedabad
CS
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
CAclubindia
