SECTION 293 (1) (e) DONATION

1. Subject - Donation.

2. Passing Authority - Board of Directors.

3. Nature of the Resolution - Resolution with simple majority.

4. Specimen Resolution(s):

"That a donation of Rs.25000/- to Handicapped Children's Association, a Charitable Institution within the meaning of the Income Tax Act, 1961 be and is hereby approved."

5. Guidelines:

1) Donations within the limits prescribed by section 293 (1)(e) may be made by the Board.

2) Donations to political parties or purposes are at present prohibited by section 293A.

3) The power in the memorandum of association should be checked.

6. filing: Not applicable.