As we all know anonymous donations received by a trust are taxable, so every charitable trust has to keep the records of donation received which includes keeping the name, address and PAN of donee. If donations are received towards corpus than trust should obtain from donee an instruction mentioning his intention to treat the donation given by him as towards corpus of the trust. Given below is the format of instruction given by donee to trust to treat the donation given by him as towards the corpus fund:-__________________________________

From:-

Mr. …………………

Address

PAN No.  …………………

To

XYZ Charitable Trust

Mumbai

 

Dear Sir,

Sub. Donation to trust towards Corpus Fund

We are enclosing herewith a Cheque No. _____________ dated __________                               drawn on bank _______________  for a sum of Rs. ___________/- (Rupees __________ only). This amount is paid as donation with specific direction that it shall from part of the corpus of your Trust and it may be spent by you manner consistent with the Trust objects.

Kindly issue a stamped receipt and also exemption certificate under section 80G of the Income Tax Act 1961 for the above donation. My PAN No. is _____________________.

Thanking You,

 

Yours Faithfully,

 

(Mr._________________)

Date: _______________

Place: Mumbai

 

Enclosed:-

1. PAN Card Copy

2. Address Proof

3. Cheque

More Under Income Tax

0 Comments

  1. Subodh Singh says:

    I wanted to understand how non-profit organizations can go about accounting the donations raised through crowdfunding channels as majority of these donors only provide their names and email address and refrain from providing details such as PAN No. and addresses.

    Kindly guide if it is legally acceptable to register donations without PAN and address.

    Many thanks in advance for your support.

  2. anantavardhana says:

    I do not agree with your word permanent fund. Amount received towards corpus itself can be spent wholly for purchase of assets. There is no restriction that only income earned out of that fund to be spent.

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