Deductibility of Donations Made to a School

1970 BIR RULING NO. 003-70 Donations Made to a School : Deductibility of Pursuant to Section 30(h) of the Tax. Code, as amended by Republic Act No. 6110, donations or contributions actually paid or made within the taxable year to the Manila Science High School (MSHS) by members of a club are deductible in full from their gross income. For income tax purposes, a deduction for such donations or contributions shall not be subject to the 6% limitation provided for by Section 30(h) of the Tax Code, as amended. If the individual donor has other deductible charitable contributions, his donation made in favor of the Manila Science High School shall not be included or considered in the computation of the taxable net income which would be the basis of the statutory limitation of 6%. cdt In connection with claims for deductions, there shall be stated on returns of income the name and address of each organization to which a gift was made and the approximate date and the amount of the gift in each case. Where the gift is other than money, the basis for calculation of the amount thereof shall be the fair market value of the property at the time of the gift. Contributions or gifts paid or made to corporations or associations specified in the law will only be allowed as deductions when the taxpayer attached to his return the receipt duly signed by the responsible officer of the corporation or association to which the contributions or gifts had been paid or made. If desired, said receipts will be returned to the taxpayer after they have served their purpose.