Applicable of FORM 10B AND 10BB

Hi Yogendra,

Here’s a simple explanation of Form 10B and Form 10BB applicability:

Form 10B

• Who files?
  It is filed by charitable/religious trusts or institutions registered under Section 12A/12AA/12AB of the Income Tax Act.

• What is it?
  Form 10B is the audit report of the accounts of the trust/institution.

• When to file?
  If the total income of the trust exceeds ₹10 lakh in a financial year, the trust must get its accounts audited and submit Form 10B along with the Income Tax Return (ITR-7).

Form 10BB

• Who files?
  It is filed by charitable trusts or institutions specifically claiming exemption under Section 80G of the Income Tax Act.

• What is it?
  Form 10BB is the audit report certifying the details of donations received and utilized by the trust for claiming deduction under 80G.

• When to file?
  It is submitted along with the income tax return (ITR-7) by trusts claiming 80G benefits, regardless of income threshold.

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