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Trusts and Institutions–section10(23C) VS section 11+12+13 Section 10(23C)-any income received by any person on behalf ofthe following entities. Sub-Clauseslist (i) to (via)-contain14 sub clauses. (i) + (ii) + (iii) , (iiia) , (iiiaa) ,(iiiaaa),(iiiab) , (iiiac) , andanexplanation to sub clauses (ab) and (ac), (iiiad) , (iiiae) , (iv) , (v) , (vi) , (via) .+ 18 provisos and an explanation. (iiiab)–is for education purpose only–university or education institution. (iiiac)-isfor hospital or other institution–philanthropic purpose. Explanation to (iiiab)+(iiiac) read with Rule.2BBB(>50% of the total receipts including any voluntary contributions then it is substantially financed by govt.) In both above clauses some part of amount should come from government and it is condition given in those clauses.) (iiiad) read with Rule 2BC–existing solelyfor education purpose only but theaggregateannual receipts of these should not exceed Rs.1Crore. (iiiae)read with Rule 2BC–existing solelyfor philanthropic purpose only but the aggregate annual receipts of these should not exceed Rs.1 Crore. (iv)read with Rule 2C-fund or institution is established for charitable purpose and approved by CIT(EXEMPTIONS).And objects of the fund must be given importance only to india. (v) read with Rule 2C–trust or institution is for wholly religious or religious and charitable and approved byCIT(EXEMPTIONS). (vi) read with Rule 2CA–university or other educational institution–existing only for education purpose and not those already mentioned in (iiiab) and (iiiad).And it is approved by CIT(EXEMPTIONS). (via) read with Rule 2CA–hospital or other institution-existing solely for philanthropic purpose and not those already mentioned in (iiiac) and (iiiae) and it is approved byCIT(EXEMPTIONS). Proviso-1read with Rule 2C+2CAis forsub-clause (iv), (v), (vi), (via) is to make application in Form no56/56D for the purpose of granting exemption or continuancethereof toCIT (EXEMPTIONS) Rule2C is for sub-clauses (iv) and (v)–FORM NO-56 Rule 2CA is for sub-clauses (vi) and (via)–FORM NO-56D Proviso-2is also for sub-clauses (iv) , (v) , (vi) , (via)–and it is meant for calling such documents by PA to satisfy about the genuineness of theactivities and also for enquiries and these all are done before approving.(PA=Prescribed Authority) Proviso-3is for (iv), (v), (vi), (via)–which contains clause(a)and(b). Clause (a) speak about accumulation of more than 15% is for a period of 5 years only. Clause (b) speaks about restriction on investment or deposit aboutits funds–and it provides5 exceptions which mean those sub-clausescan neither investnor deposit. Proviso-4is for (iv) , (v)–time limit about investment or deposit made <01.04.1989 and that to specified modes of section 11(5) only and no such investment nor deposit should be seen >30.03.1993 then exemption should not be denied. Proviso-5is for (vi), (via)–time limit about investment or deposit made <01.06.1998 and that to specified modes of section 11(5) only and no such investment nor deposit should be seen >30.03.2001, then exemption should not be denied. Proviso-6is for–(iv) , (v) , (vi) , (via)speaks about voluntary contributions . Proviso-7is for (iv) , (v) , (vi) , (via)-shall not apply to income of business which is incidental to the attainment of objectives and separate books are maintained by it in respect of such business. Proviso-8is for (iv) , (v) . Proviso-9is for (iv) , (v) ,(vi) , (via) Proviso-10is for (iv) , (v) , (vi) , (via) read with Rule 16CC and FORM NO 10BB.i.e without giving effect of sub-clauses (iv) , (v) , (vi) , (via) exceeds the slab shall get accounts audited. Proviso-11read with section 80G(2)(d)+ 80G(5C)(v). Proviso-12is for (iv) , (v) , (vi) , (via) Proviso-13is for (iv) , (v) , (vi) , (via)–withdrawing the approval and notification is rescinded, and that copy is given to person referred in sub-clauses (iv) , (v) , (vi) , (via) and to AO. Proviso-14is for (iv) , (v) , (vi) , (via) those who makes application as per proviso-1 on or after 01.06.2006 shall be madeon or before30.09.xxxx for that relevant AY. Proviso-15read with section 115BBC–anonymous donations on which tax is payable shall be included in total income. Proviso-16is for (iv) and (v) i.e pending application made before 01.06.2007 shall stand transfer to PA. Proviso-17isfor (iv) and (v)–says if 1stproviso of section 2(15) applies then its income shall be included in totalincome. Proviso-18–section 10(1) is only allowed and no other clauses of this section 10 shall be excluded from total income of the person in receipt. Explanation to section 10(23C)–says if dep claimed then no application of income, and if application of income is claimed then no deprecation is allowed as deduction. SEC 11SEC 12SEC 12ASEC 12AA SEC 13RULESFORMS Income from property held for C or R purposes Income of trusts or institutions from contributions Conditions for applicability of sec 11and 12 Procedure for registration Sec 11 not to apply in certain cases Sec 11- R.17+17C. Sec 12A- R.17A+17B. Sec 11– F.no.10+9A Sec 12A- F.no.10A+10B. (1)(a)(1)(1)(a)+pro- 1+2 (1)(a)(1)(a) (1)(b)(2)(1)(aa)(1)(b)+pro(1)(b)R.17A10A (1)(c)(i)/(ii)+proExp to (2)(1)(b)(1A)(1)(c)(i)/(ii)+pro- 1+2+exp+Sec 13(3) R.17B10B (1)(d)(3)(2)+pro- 1+2+3 (2)(1)(d)(i)/(ii)/(iii)+pro+ Exp to pro Exp for (a)+(b)(3)+pro(2) contains (a) to (h)+pro to (g)+ sec 13(3) R.17(1)9A- OPTION (1A)(a)(4)+pro(4) (1A)(b)(5) Exp to (1A)(6) (1B)(a)(7) (1B)(b)(8) (2)(a)(9)(i)/(ii)R.17(2)+(3)+(4)10-STATEMENT (2)(b)Exp-1 is for sec.11+12+12A (2)(c)Exp-2–Sec 13(1)(b) ProvisoExp-3–for sec 13 Exp to (2) (3)(a) (3)(b) (3)(c) (3)(d) (3A) + PRO-1+2 (4) (4A) (5): (i)-(xii)RULE-17C (6) (7) Note:- 1.ForRules and Forms mapped in front of sections had already wrote in the heading in order to avoid confusion 2. Italicdesign applied means finance act 2015 amendments. 3. Rulesand forms italic design applied means incometax (first amendment) Rules 2016. 115BBC:Anonymous donations to be taxed in certain cases. (1)(i)(A)/(B) (1)(ii) (2)(a)/(b) (3) Sec 2(24)(iia)




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