Exemption us 23ciii(ad)
This query is : Resolved
vikas marothia
(Querist)
15 November 2015
An aop running school .his annual recipt 10 lack .what condation aop should fullfill to claim the exemption u/s 10 23ciii(ab)pls reply urgent .should he has to file itr 7.or 5,
CA R SEETHARAMAN
(Expert)
15 November 2015
The following conditions to be fulfilled for claiming exemption.
1 The annual total receipts not to exceed 1 crore
2 The institution is run solely for educational purpose.
3 The institution is a non profitable one.
File ITR 7.
1 The annual total receipts not to exceed 1 crore
2 The institution is run solely for educational purpose.
3 The institution is a non profitable one.
File ITR 7.
CA Shyam Agarwal
(Expert)
16 November 2015
agree with seetharaman
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