Trust taxability
This query is : Resolved
23 February 2021
Hi All,
One of my client is running a trust. They are providing SAP training courses to students at a concessional rates. Client want to claim exemption u/s. 10(23C) iiiad. Is it necessary to make any application to Income tax dept. to treat it as a educational institution.
Or they can directly claim exemption while filing ITR as receipts are less than Rs. 1 Crs.
Thanks in advance.
One of my client is running a trust. They are providing SAP training courses to students at a concessional rates. Client want to claim exemption u/s. 10(23C) iiiad. Is it necessary to make any application to Income tax dept. to treat it as a educational institution.
Or they can directly claim exemption while filing ITR as receipts are less than Rs. 1 Crs.
Thanks in advance.
25 September 2021
No, they cannot directly claim any deduction.
As per Rule 2C, an application is to be made to Commissioner on prescribed form for grant of permission.
As per Rule 2C, an application is to be made to Commissioner on prescribed form for grant of permission.
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