Jayanta (Service) 11 February 2013
As a part of CSR activity, one company is giving Rs.15 Lakhs as a financial assistance to a Local Body for arrangement of local cricket tournament. It is not registered under Society Act. Nor it submits any tax return. Please advise me on tax obligation on the part of company making donation. Is it tax exempt exp.
Thanks in advance.
Sanjeev (Lawyer) 11 February 2013
There is no tax exemption unless the local body is registered under Income tax Act u/s 80
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