Charitable Trust registered u/s 12- Tied up and in kind donation

[Sanjeev Sharma]

1.If donation is in kind being a piece of land or ambulance and food items, how to account for them in books ?? and what is the tax treatment ?? 2.Is donation in kind or donation for capital assets are treated as Corpus donation? 3.How to account for donation for specified purposes – for capital items ( say land or ambulance) and for other trust objects, which are specified by donor- say for books or for blood camp ?? And what is the tax treatment ?

AI Summary

Discussion on Accounting and Tax Treatment for In-Kind Donations to Charitable Trusts Under Section 12 A participant in a discussion forum inquired about the accounting and tax treatment of in-kind donations to a charitable trust registered under section 12, specifically regarding donations of land, ambulances, and food items. The questions also addressed whether such donations are considered corpus donations and how to account for donations intended for specific purposes, like capital items or other trust objectives. The sole response requested the original poster to share their perspective on the matter, focusing on taxation treatment.