Please Help: donation collected
Posted Date : 08-Dec-2012 , 01:31:30 pm | Posted By Abha
what are tax implication on donation collected by limited company.
Category : Income Tax | Answers : 2 | Comments : 1 | Hits : 145
Answers
Answer By: Mrattunjay
not allowed in Income tax act, will be taxed at full rate
Answer By: CA Satuti Mahajan
taxable
Comments
vipul jadhav
18-Dec-2012 , 07:45:49 pmcollecting donations not allowed. also the same will not be enlisted under memorandum and articles of association, hence violation of the companies act.