CCI Online Learning
50% OFF in CA/CS/CMA Subjects
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Clarification on exemption u/s 10(23c) of i.t. act


Vikas (Accountant)     18 July 2017

Vikas
Accountant 
 42 points

| My Other Post

Dear Members, A client is a Trust registered as Public Charitable Trust. The Trust is running an english medium school recognized by govt. of W.B. Trust doesn't get any donation from outside neither aided with govt. fund. Receipt 100% compromises of fees charged to student. Trust is going to file 1st time Income Tax Return. Q1. Status of Trust? BOI or Firm Q2. Inorder to claim exemption u/s 10(23C), is it necessary to take approval from DG Exemtion in Form 56 ( As gross receipt is less than 1cr.)? Anyone please clarify.

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     19 July 2017

Dhirajlal Rambhia
KVO Merau Kutchh 
 9230 likes  93355 points

View Profile | My Other Post

1. AOP

2. Yes.

"Any educational institution existing solely for educational purposes and not for purposes of profit and approved by the Chief Commissioner or the Director General enjoys exemption under sub-clause (vi) [section 10(23C)].

For this purpose the educational institution has to make an application in Form No.56D as prescribed in Rule 2CA"

Vikas (Accountant)     21 July 2017

Vikas
Accountant 
 42 points

View Profile | My Other Post

Thanks a lot Sir

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     22 July 2017

Dhirajlal Rambhia
KVO Merau Kutchh 
 9230 likes  93355 points

View Profile | My Other Post

Most Wecome Sir


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading

Popular Discussion


view more »



Trending Tags
GST Live Class    |    x