situation:-
A group of 10 companies are incurring expenditure for construction of some property. after completion of construction, it will be donated to govt for serving society. we have adviced companies to form AOP for this purpose. now company is seeking our advice, regarding how they can claim deduction of this expanse. Please also advice if there is any other better alternate then AOP?
Companies Explore Tax Deductions for Property Donation Without AOP Registration; CSR Eligibility Under Companies Act, 2013 Examined A group of ten companies is incurring expenses to construct a property that will be donated to the government for societal benefit. They were advised to form an Association of Persons (AOP) for this purpose but are seeking alternative ways to claim tax deductions without registering an AOP. The discussion revolves around whether the expenditure qualifies as Corporate Social Responsibility (CSR) under the Companies Act, 2013, which would allow for tax exemptions. It is suggested that the companies verify if constructing water dispensers for society is eligible for CSR benefits. (AI Summary)
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