09 December 2009
While filling the audit report in Form 10B for charitable institutions, point no 1 is Amount of income of the previous year applied to charitable or religious purposes in India during that year. Under this do we write the entire receipt for the year or amount actually applied for charitable objects ? letss say total receipt for the yr is Rs 100 and amount applied or used on charitable object is Rs 70, what should we write in this point?
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