Charitable trust and section 10(23)(iiiad)
This query is : Resolved
30 August 2023
sir
I have a question related above subject.
An educational institution covered under section 10(23C) (iii ad) has FDR in bank account and during the year he earned interest on such FDR and TDS is also deducted on it.
1. my question is whether we have to report interest on FDR in other source head or in SCHEDULE IE-4 "INCOME AND EXPENDITURE STATEMENT (applicable for assessees claiming exemption under section 10 (23C) (iii ad)?
Please reply me and oblige.
Thanks
I have a question related above subject.
An educational institution covered under section 10(23C) (iii ad) has FDR in bank account and during the year he earned interest on such FDR and TDS is also deducted on it.
1. my question is whether we have to report interest on FDR in other source head or in SCHEDULE IE-4 "INCOME AND EXPENDITURE STATEMENT (applicable for assessees claiming exemption under section 10 (23C) (iii ad)?
Please reply me and oblige.
Thanks
21 January 2024
Exemption under Section 11 is available to a trust in respect to the income applied for charitable or religious purposes in India. If the income is applied for purposes other than religious or charitable purposes, it shall be taxable under Section 115BBI.
https://incometaxindia.gov.in/tutorials/76.taxability-of-income-of-charitable-or-religious-trusts.pdf
https://incometaxindia.gov.in/tutorials/76.taxability-of-income-of-charitable-or-religious-trusts.pdf
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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- LIC Annuity received under Jeevan Akshay Scheme
- In Exports Sales HSN details where to fill
- Form 10BD Filling
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
