banner_ad

Income tax u/s 10(23c)(iiiad) of the income tax act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 August 2019 As far the above sec stipulated that if an institution (not registered U/S 12A of the Income tax Act) predominantly doing educational activity and the gross receipts is less than 1 crore then entire income is exempt from tax. The section didn't elaborate how to compute the tax liability and what are all the consequences in case of violation sec 40A (3) as well as other provisions of the income tax act. So pls suggest me how to compute the income and file the IT return of the educational institution.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
08 August 2019 No need to file any IT return for such exempt institution.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details