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Form 10 for accumulation under section 11(2)

Rajesh P (7 Points)

15 October 2021  
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) ?

 6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (107732 Points)
Replied 17 October 2021

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 .............

 

1 Like

Rajesh P (7 Points)
Replied 17 October 2021

So need not apply any form for approval even it is not spent upto 85% of the receipts . right?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (107732 Points)
Replied 18 October 2021

Being governmental institute, I don't see any such requirements. Still your auditor may throw more light on all such requirements.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (107732 Points)
Replied 18 October 2021

Being governmental institute, I don't see any such requirements. Still your auditor may throw more light on all such requirements.

Rajesh P (7 Points)
Replied 18 October 2021

Ok sir thank you

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Replied 18 October 2021

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