Income of ICAI is exempt from Tax..?
Gunasekhar (Student CA IPC / IPCC) (51 Points)
15 September 2019
Income of ICAI is exempt from tax or not
1 Replies
Kapadia Pravin
(17259 Points)
Replied 16 September 2019
The income of the institute is exempt not only u/s 10(23C)(iv) but also under section 11.
The Institute is an educational institute and hence its income will also be exempt u/s. 11 as education falls within the meaning of charitable purpose under section 2(15) of the Act.
The Institute is an educational institute and hence its income will also be exempt u/s. 11 as education falls within the meaning of charitable purpose under section 2(15) of the Act.
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