80G Exemption

This query is : Resolved

vijay (Querist)
Follow

18 February 2021 Dear sir,
Is 80 G not applicable for charitable and educational institutions. I was told by a CA that educational institutions make profit. It was suggested to remove delete educational objectives from the trust deed.

I am not sure it is true, is there any new amendment for where 80G is only for charitable not for educational objects.

Appreciate your guidance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 February 2021 'Education' Is An Object, Charitable Per Se Under The I.T Act. ... The income of a charitable trust or a society under whose aegis these schools run is exempt from Income tax according to the provisions of Section 11, 12 and 13of the Income Tax Act.
80G applicable for educational institutions registered under section 12A and run not for profit.

vijay

vijay (Querist)
Follow

19 February 2021 The trust runs a school which collects fees hence the CIT office said 80 G will not be given as the school generates profits.. please suggest

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 February 2021 Give an undertaking that school is run on no profit basis, eventhough fees is collected.

vijay

vijay (Querist)
Follow

19 February 2021 Ok. Thank you sir for your valuable guidance.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now