Educational Institution getting rental income can calim Exemption u/s 10(23C)(iiiad)
This query is : Resolved
Chandra Kala
(Querist)
05 September 2022
Educational Institutions which receive rental income from house property & capital gain can claim exemption u/s 10(23C)(iii ad) for all receipts of Tuition fee, Rental Income & Capital gains
CA R SEETHARAMAN
(Expert)
05 September 2022
Section 10(23C)(iiiad) provides that the income earned by any university or educational institution existing solely for educational purposes and not for the purposes of profit shall be exempt from tax if the aggregate annual receipts of such university or educational institution do not exceed Rs. 5 crore.
Annual receipt should include sale value.
Annual receipt should include sale value.
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