Deduction for company contributions extended to electoral trusts, allowing corporate donations to qualify for tax deduction from 2010-2011. The amendment adds "or an electoral trust" to the deduction provision for corporate contributions, making contributions by Indian companies to electoral ... Summary
Deduction for company contributions extended to electoral trusts, allowing corporate donations to qualify for tax deduction from 2010-2011.
The amendment adds "or an electoral trust" to the deduction provision for corporate contributions, making contributions by Indian companies to electoral trusts eligible for deduction; it takes effect from 1 April 2010 and applies to the assessment year 2010-2011 and subsequent years.
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