is educational institution under 10 (23C) iiiab i.e., educational institutions sabstantially contributed by the Govt need to apply form 10 for accumulation under section 11(2) ( accumulation of income more than 15%)
or
form 10 is only applicable to incomes derived from property held under charitable trust(approved trusts/funds/ institutions) ?
Menu
Form 10 for accumulation under section 11(2)
Replies (5)
No. it is not applicable to institute under sec. 10(23C)( iiiab).
Read the explanation 2 under Sec. 11(2) .... for the institutes covered for form 10....
................ to any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of sec. 10 or other trust or institution registered under Sec 12AA , being contribution with a specific direction that it shall form part of the corpus .............
So need not apply any form for approval even it is not spent upto 85% of the receipts . right?
Being governmental institute, I don't see any such requirements. Still your auditor may throw more light on all such requirements.
Being governmental institute, I don't see any such requirements. Still your auditor may throw more light on all such requirements.
Ok sir thank you
Recent Threads
- Final new course clarification
- Can claim Itc
- Transfer of mutual funds to son as gift
- First Time ITR with 5000 penalty
- Loss due to non tradeable stocks
- What's CGAS?
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
Related Threads
CAclubindia
