Securing tax benefits while contributing to worthy causes is a win-win situation. Under India's Income Tax Act, donations made to registered charitable organizations under Section 80G can potentially minimize your tax liability. These generous contributions offer significant financial incentives for individuals who wish to support social welfare. B
Donations provided to political parties or electoral belief by firms are deemed underneath this segment we will enhance the expenditures account by debiting it and decrease the asset account by crediting it from the journal entry. There won't be any alter inside the journal entry. Monetizing plan: Stipulate when in-sort donations are employed for
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