Advice
This query is : Resolved
14 August 2014
respected sir,
One of my clients is running educational institutions. Their gross receipts are more than 1 crore and they are having 10(23C) (VI) exemption.
Is it correct to show the income from the above is shown under Income from Business and claim exemption U/S 10(23C) (VI). Or else we have to show it under income from other sources.
Previous auditor has done like that.
Pl advice us in this matter.
thanking ;you sir,
Yours faithfully,
CA srinivas
One of my clients is running educational institutions. Their gross receipts are more than 1 crore and they are having 10(23C) (VI) exemption.
Is it correct to show the income from the above is shown under Income from Business and claim exemption U/S 10(23C) (VI). Or else we have to show it under income from other sources.
Previous auditor has done like that.
Pl advice us in this matter.
thanking ;you sir,
Yours faithfully,
CA srinivas
14 August 2014
in this case you need to comply section 11 guidelines. earlier CA has not given the correct treatment
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
