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Registration under Sec 10(23)C
I am working in edudcational organisation and apart from fees collection and we get non-plan grants towards salary support. For the year 2006-07 (A.Y.2007-08). In recent assessment, the A.O has issued notice that the institute has exceeded Rs.100 Lakhs gross receipts and not registered under sec 10(23)c, the institute is liable for tax and to be paid with in 30 days. Please let me know how far A.O. is right. We are registered under 12(A)A
Replies (2)
Dear P.R.Vittal Rao,
I also agree with what u r saying, that Registration u/s 10(23C)(iid) is not compulsory...
Since ur Institute is registered u/s 12, then it's income is exempt based on the Provisions of Sec 11 & 12..
Sec 10 has no role to play in case of exemptions u/s 11 & 12.
The objective of Section 10(23), 35(1) and 12AA are absuletely seperate.
May please go through Income tax Rules
Be satisfied with Notice clauses and reply accordingly
in other difficulty we may contact to me on my mobile 9015900450
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