Question ID :
40989
229489
RESPECTED EXPERTS,
Can a 12A registered trust accepts donation in kind i.e. most of the donors gives Books, Blankets, Second Hand Goods, rice bags etc. to Trust?
How to record such donation in kind in books and at value to be recorded in Books of accounts?
Can second Hand goods be sold and uses its proceeds for charitable activities? Is it falls under commercial activities?
What would be the treatment as per Income Tax Act?
Please clarify it..
Thanks
posted by
MOHAMMED QUSROO
on
Mar 7 2021 12:00AM