Itr form for schools
This query is : Resolved
27 March 2018
An education institution ( school ) having gross receipts less than 1 crore .
As 10(23c(iiiad)exemption available upto 1 crore they have no tax liability.
Which ITR they can use and how to show the exemption ?
As 10(23c(iiiad)exemption available upto 1 crore they have no tax liability.
Which ITR they can use and how to show the exemption ?
VIJAY KUMAR
(Expert)
28 March 2018
Dear Hari,
Fill form 7 with correct details in "other details" by mentioning institution run by you, select section 10(23c)(iiiad) and put aggregate annual receipts and in last also mention project run by you selecting nature of activity as charitable etc. fill relevant schedules like schedule k must of managers details. no need to fill gross recipts under any head.
Fill form 7 with correct details in "other details" by mentioning institution run by you, select section 10(23c)(iiiad) and put aggregate annual receipts and in last also mention project run by you selecting nature of activity as charitable etc. fill relevant schedules like schedule k must of managers details. no need to fill gross recipts under any head.
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