Poonawalla fincorp
Poonawalla fincorp

Tax on Income of school / college

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(Querist)
03 November 2008 Can a school or college claim exemption us 10(23C). Is it applicable only to University etc.
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Taxguy

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Taxguy (Expert)
03 November 2008 Yes if they fulfill the conditions in 10(23C). It is applicable to many other institutions, hospitals, etc.
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Subrahmanyam

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Subrahmanyam (Querist)
03 November 2008 can Sec 11 also be applied. How to determine whether 85% of income was applied for the said purposes.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
04 November 2008 To get the benefit of Section 11, registration of Institution as a trust is necessary.

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