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sec 10(23c) IT act 1961, Income Tax |
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sec 10(23c) IT act 1961 |
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when we have to apply 10(23c)?In case of educational institution whose annual total receipts exceeds rupees 1 crore we cann't get exemption from IT act 1961 then what we have to do? Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Section 10(23c) (iiiad) provides that any university or other educational institution existing solely for educational purposes and not for purposes of profit if the aggregate annual receipts of such university or educational institution do not exceed the amount of annual receipts as may be prescribed. Rule 2BC(1) provides the limit as ₹ 1 crore. Since the total receipts exceeds ₹ 1 crore, in my view, you cannot get exemption. Page: 1 Old Query - New Comments are closed. |
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