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Pgbp

Direct Taxation

Y here donation to public charitable trust added back

Reetikaa R

CA Inter

★ 7K+

03-Mar-23 00:33

212

Answers (4)

Best Answer

Thread Starter

Reetikaa R

Donation to charitable trust allowed as deduction u/s 80G , not from PGBP. But , it is debited to PGBP p&L A/C as Expense . Hence to add back and allowed in deductions.

Varun Mulay

CA Inter

★ 38K+

03-Mar-23 07:30

Thread Starter

Reetikaa R

CA Inter

★ 7K+

03-Mar-23 00:34

Donations can be claimed as deduction under section 80G. If it was claimed as expense then it gets double benefit as it is decreasing the profit of the entity. So it is added back and can be claimed as deduction.