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TMI BlogOrder under section 119 of the Income-tax Act, 1961X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 section 10 (hereinafter referred to as trust or institution under the first regime) of the Income-tax Act, 1961 (hereinafter referred to as the Act) or any trust or institution registered under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the prescribed Form before the specified date. 2.1 A similar condition is in place for trust or institution under the second regime in sub-clause (ii) of clause (b) of sub-section (1) of section 12A of the Act. 3. Rule 16CC and 17B of the Income-tax Rules, 1962 (hereinafter referred to as the Rules) prescribe the form of audit report for trust or institution under the first and second regime resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The due date for furnishing such audit reports for the A.Y. 2023-24 was 31st October, 2023. 5. Prior to the aforesaid amendment of the Rules, the earlier prescribed form for audit report was Form No. 10BB for trust / institution in the first regime and Form No. 10B for trust / institution in the second regime, 6. Thus, A. Y. 2023-24 is the first year when changes described in paragraphs 3 and 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore 31st October, 2023 in Form No. 10B where Form No. 10BB was applicable and vice-versa, to furnish the audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii) of clause (b) of sub-section (1) of section 12A of the Income-tax Act, 1961 , in the applicable Form No. 10B / 10BB for the assessment year 2023-24, on or before 31st March, 2024. (Saurabh Jai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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