FOR 10BB FOR education institute claiming exemption u/s 10(23C)(iiiad).

This query is : Resolved

Shagun (Querist)
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28 October 2023 Dear Sir/Madam,

Ours is a Bachpan PLay school - it is a franchise School, here Nursery, LKG and UKG classes are taken.

We want to file ITR for F.Y.2022-2023, it has gross receipts of 71 lakhs.
Can we file ITR 7 by claiming Exemption U/S 10(23C)(iiiad) of income tax Act.

We have not taken any 12A registration and other registrations .

And Pls let me know do we hv to file Form 10BB for the above case.

Please any body guide me on this.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 October 2023 Yes, file ITR 7.
10BB not required.

Shagun

Shagun (Querist)
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29 October 2023 Is pre schools eligible for full exemption u/s 10(23C)(iiiad) of income tax act

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 October 2023 Pre school not eligible but nursery LKG UKG part of school eligible.

Shagun

Shagun (Querist)
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20 March 2024 Dear Sir/Madam,

Ours is a Bachpan PLay school - it is a franchise School, here Nursery, LKG and UKG classes are taken.

We have filed ITR for F.Y.2022-2023, it has gross receipts of 71 lakhs.
we have filed form ITR 7 by claiming Exemption U/S 10(23C)(iiiad) of income tax Act.

We have not taken any 12A registration and other registrations .

And Pls let me know do we hv to file Form 10B or Form 10BB for the above case as per new Circular No. ;2../2024 dated 05.03.2024

Please any body guide me on this.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 March 2024 Not required as the section is not mentioned in the circular.

Shagun

Shagun (Querist)
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20 March 2024 And sir, i filed ITR 7 on 30.07.2023 but so far ITR is not yet processed. Is there any issues??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 March 2024 No issues wait for processing.

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