Exemption u/s 10(23c)(iiiad) as per income tax act
This query is : Resolved
Chandra Kala
(Querist)
13 December 2023
Exemption to be claimed u/s 10(23c)(iiiad) for gross receipts or for net income i.e. (gross receipts minus expenditure)
CA R SEETHARAMAN
(Expert)
13 December 2023
Gross receipts upto 5 crore.
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.
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.
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