Sec 10(23)C Exemption

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Bhavesh (Querist)
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22 January 2011 Sir,

Is a school, registered under societies Act, required to be registered under Income Tax Act to get exemption u/s 10(23)C ?
If yes what is the procedure for registration?

Pls guide me.

Manoj Sachdeva

Manoj Sachdeva (Expert)
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23 January 2011 Yes an application has tobe made to the Director of Income Tax (Exemptions)in form no 56

Message likes : 1 times

Bhavesh

Bhavesh (Querist)
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25 January 2011 ThanQ verymuch sir.

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Bhavesh

Bhavesh (Querist)
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26 January 2011 Could you pls give me the data regarding following two cases

Case-1
a school registered under societies Act & IncomeTax Act[sec-10(23)C]

Case-2
a school registered under societies Act but not registered under Income Tax Act[sec-10(23)C]

Question-
In both the cases
1) What are the applicable tax rates?
2) Whether the Audit is compulsory or Not?
3) Form of Audit Report? (10BB or 3CB/3CD)
4) Form of ITR? (ITR-4 /ITR-7)
Thank you.