Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Trust clarification

427 views

Save Share

Join Us Follow Us Add as Source

S KUMAR

PROPRIETOR

53 Points Posted on 17 October 2023

Dear Friends

One of my client is Trust running educational institution and whose gross receipt is less than 5 Crores. Whether I can claim exemption u/s 10 (23C)(iiid) of the income tax act. If so , whether I should file Audit Report in Form 10 BB

Please clarify

Thanks

Replies (2)

Quick Summary

An individual is seeking clarification on whether their client, an educational trust with gross receipts of ₹2.15 crore, can claim exemption under Section 10(23C)(iiid) of the Income Tax Act. They also want to know if filing an Audit Report in Form 10BB is necessary in this scenario.