Tax on Income of school / college
This query is : Resolved
Subrahmanyam
(Querist)
03 November 2008
Can a school or college claim exemption us 10(23C). Is it applicable only to University etc.
03 November 2008
Yes if they fulfill the conditions in 10(23C). It is applicable to many other institutions, hospitals, etc.
Subrahmanyam
(Querist)
03 November 2008
can Sec 11 also be applied. How to determine whether 85% of income was applied for the said purposes.
S.Srinivasaraghavan
(Expert)
04 November 2008
To get the benefit of Section 11, registration of Institution as a trust is necessary.
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