INCENTIVES OF CHARITABLE DONATIONS UNDER SECTION 80G

Charitable donations in India are recognized as a noble act and are encouraged by the government. Under Section 80G of the Income Tax Act, 1961, donors are entitled to certain tax exemptions on their contributions made to eligible institutions. These incentives aim to stimulate individuals and organizations to contribute towards the social well-bei

Donations in-sort are recorded over the books at fair benefit. FASB defines reasonable price as “the value that might be gained to sell an asset or compensated to transfer a legal responsibility within an orderly transaction involving sector contributors on the measurement date.” So when you read through “in lieu of bouquets”, you could in