09 October 2014
if the trust is registered under sec 12 A , of income tax act and application of funds towards the object of trust are not less than 85 %, than the income of the trust is exempt under sec 11 (1)itself. the limit of 1 cr is applicable u/s 10 (23), if trust is not registered u/s 12 A, and if the gross receipt are less than 1 cr from education activity , than the income is exempt under sec 10 (23), provided other condition of sec are fulfilled.
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