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
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Tax treatment of Donation received by Soceity Havin 12A
Replies (1)
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
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