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Income Tax - Highlights / Catch Notes

Home Highlights December 2011 Year 2011 This

Exemption under 10(23C) - It is not statutorily incumbent upon ...


Assessees don't need section 12A registration for section 10(23C) exemption if receipts under one crore, solely educational.

December 17, 2011

Case Laws     Income Tax     AT

Exemption under 10(23C) - It is not statutorily incumbent upon the assessee to obtain registration u/s 12A of the Act, to enable it for exemption u/s 10(23C) of the Act. - As its receipts, don't exceed Rs. One Crore and the assessee trust exists solely for the educational purpose and not for the purpose of profit, exemption allowed .... - AT

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