Audit Report 10BB-Want to confirm that in case when we are claiming exemption of 10(23C)(iiiad) then

Save Share

This query is : Resolved

Quick Summary

For the financial year 2024-25, societies running schools that qualify for exemption under section 10(23C)(iiiad) and have annual receipts under £5 crore are generally not required to submit Form 10BB. This exemption applies if there's no foreign contribution and income isn't applied outside India. Form 10BB only becomes mandatory if receipts exceed £5 crore, or if there's foreign contribution or income applied abroad.

nitin gulati

nitin gulati (Querist)
Follow

10 October 2025 Want to confirm that in case when we are claiming exemption of 10(23C)(iiiad)(society running school with fee less than 5CR only education purpose) then whether form 10BB ie audit report is mandatory or not in FY-2045-25.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

10 October 2025 For the financial year 2024-25, a society running a school claiming exemption under section 10(23C)(iiiad) (i.e., educational institution with annual receipts not exceeding ₹5 crore and solely engaged in education) is generally not required to file Form 10BB audit report if its receipts are less than ₹5 crore, no foreign contribution is received, and no income is applied outside India.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

10 October 2025 Recent Rules and Notification Summary
For pure 10(23C)(iiiad) claims (annual receipts ≤ ₹5 crore, education only, no foreign contribution, no foreign application of income), there is no statutory requirement to file Form 10BB for FY 2024-25.

Filing Form 10BB becomes necessary only if one or more of the exceptional conditions are met (receipts above ₹5 crore, foreign contribution, or income applied outside India).

This is consistent with department guidance, FAQs, and expert commentary.

nitin gulati

nitin gulati (Querist)
Follow

11 October 2025 Thanks a lot for your timely reply

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

11 October 2025 You are welcome.

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