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Educational institution taxation

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(Querist)
17 January 2014 Whether Education institutions having exempted income U/s 10(23C)(iiiad) are required to file income tax returns? If yes which ITR? plz reply
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 January 2014 there is no requirement to file return till you are covered under 10(23C)(iiiad) as long as the gross receipts is less than 1 cr.

in case it goes above 1 cr...all the conditions in section 11/12 need to be satisfied and ITR 7 and Form 10BB needs to be filed.

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