Dear Sir,
Exemption under Section 11 & 12 for trust and u/s 10 (23C) is separate.
If it satisfies condition of one section for exemption then it is not necessary to satisfy condition of other section as both is different. Both section stipulates different conditions for exemption.
If exemption is being claimed exempt under 10(23C)(iiiad), then approval is needed otherwise not.
Moreover, it is one of the objective of your Trust to provide education. It does not fall under the word 'any university or other educational institution existing solely for educational purposes'.
Views expressed herein are personal.
Regards
CA Ekant Jain
91-9582365251
From: Dipak Shah <djshah1944@yahoo.com>
To: "ICAI_CIRC_MEERUT_CA@yahoogroups.com" <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Cc: Anil Goyal <anilkotputli@yahoo.in>; AAYKARBHAVANGOOGLE <aaykarbhavan@googlegroups.com>; aaykarbhavan <aaykarbhavan@yahoogroups.com>; "ahmedabadcas@yahoogroups.com" <ahmedabadcas@yahoogroups.com>; ALWAR CA GROUP <ALWAR_CHARTERED_ACCOUNTANTS@yahoogroups.com>; aurangabadcas <aurangabad_ca@yahoogroups.com>; "awakenedcas@yahoogroups.co.in" <awakenedcas@yahoogroups.co.in>; C A Bhupendra Shah Mumbai <GlobalIndianCAs-owner@yahoogroups.com>; C A Dipak Jain <djain128@gmail.com>; C A Krishanlal Bansal <klbansal@gmail.com>; C A Madhusoodan Kakkad. <camnkakkad@gmail.com>; C A of Thane <ThaneCAs@yahoogroups.com>; C A Pune Groupd <casofpune-subscribe@yahoogroups.com>; CA News <CANEWS@yahoogroups.com>; "ca expert team@yahoogroups.com" <ca_expert_team@yahoogroups.com>; cacscw india group <cacscwaindia@yahoogroups.com>; "cacscwaindia@yahoogroups.co.in" <cacscwaindia@yahoogroups.co.in>; Chartered Secretaries <chartered_secretary@yahoogroups.com>; "Chartered_accountant@egroups.com" <Chartered_accountant@egroups.com>; chartered accountant <Chartered_accountant@yahoogroups.com>; "chartered_accountants@yahoogroups.com" <chartered_accountants@yahoogroups.com>; Company Secretaries Yahoo.Groups <aicsc@yahoogroups.com>; Company Secretary <company_secretary@googlegroups.com>; Company Secretary <company_secretary@yahoogroups.com>; CS A Rengarajan <csarengarajan@gmail.com>; CS <cs_companysecretaries@yahoogroups.com>; CS_MYSORE GROUP <csmysore@googlegroups.com>; Finpros Furum <finpros@yahoogroups.com>; ghaziabadca <ghaziabad_ca@yahoogroups.com>; icai-circ_ meerut <ICAI_CIRC_MEERUT_CA@yahoogroups.com>; itaxusers <itaxusers@googlegroups.com>; Jaipur CA <Jaipur_CA@yahoogroups.co.in>; JAIPUR CA JAIPUR CA GROUP <jaipurca@yahoogroups.com>; Jalgaon ICAI <jalgaon@icai.org>; Jalgaon C A <jalgaoncas@googlegroups.com>; lawprofessional Moderator <lawprofessional-owner@yahoogroups.com>; lucknow C A Group <lucknow-ca@yahoogroups.com>; lucknow <Lucknowca_reinvented@yahoogroups.com>; New Delhi CA forum <new_delhi_ca@yahoogroups.com>; "nicsi@yahoogroups.co.in" <nicsi@yahoogroups.co.in>; "Panipat_CA@yahoogroups.com" <Panipat_CA@yahoogroups.com>; CA RUNGTA PD <pdrungta@gmail.com>; "Ranchi_Chartered_Accountants@yahoogroups.com" <Ranchi_Chartered_Accountants@yahoogroups.com>; sankaramoorthy sankaralingam <ssmarchana@yahoo.com>; taxfin <taxfinsoft@yahoogroups.com>; "bjpcacell-owner@yahoogroups.co.in" <bjpcacell-owner@yahoogroups.co.in>; "sensitiveadvisor2008@yahoogroups.co.in" <sensitiveadvisor2008@yahoogroups.co.in>
Sent: Tuesday, 28 August 2012 3:05 AM
Subject: [aaykarbhavan] Re: {Amresh's CA's} TRUST QUERY:- URGENT
http://www.carkgupta.com/Image/Taxability%20of%20EducationalInstitutions.pdf
https://www.google.com/#hl=en&sclient=psy-ab&q=+APPROVAL+OF+CCIT+U%2FS+10+%2823C%29+iiiad++under+Income+Tax+of+India&oq=+APPROVAL+OF+CCIT+U%2FS+10+%2823C%29+iiiad++under+Income+Tax+of+India&gs_l=hp.12...9449.29553.0.32047.31.30.1.0.0.0.193.3479.4j26.30.0.les%3B..0.0...1c.znyrYTrmN4c&pbx=1&bav=on.2,or.r_gc.r_pw.r_cp.r_qf.&fp=48577dbfdd8cbd4f&biw=1366&bih=598
Visit above link and find reply .
C A Shah D J
USA
From: Anil Goyal <anilkotputli@yahoo.in>
To: ICAI MEERUT <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Sent: Monday, 27 August 2012 8:54 AM
Subject: {Amresh's CA's} TRUST QUERY:- URGENT
| ONE TRUST IS REGISTERED U/S 12A AND 80-G. APART FROM OTHER CHARITABLE ACTIVITIES, IT IS ALSO RUNNING A SCHOOL. MORE THAN 85 % OF TOTAL INCOME OF TRUST IS BEING UTILISED FOR CHARITY PURPOSE. NOW RECEIPT OF SCHOOL IN CURRENT YEAR IS LIKELY TO EXCEED Rs 1 CRORE . MY QUERY IS WHETHER TRUST IS REQUIRED TO OBTAIN THE APPROVAL OF CCIT U/S 10 (23C) iiiad DESPITE THE FACTS THAT IT WILL APPLY MORE 85% OF INCOME FOR CHARITY PURPOSE. IF IT DOES NOT APPLY WHAT CONSEQUENCES MAY BE ? . I FEEL TILL IT IS UTILISING MORE THAN 85 % OF INCOME FOR CHARITY PURPOSE, THERE IS NO NEED TO APPLY FOR APPROVAL OF CCIT. DEAR FRIENDS GIVE YOUR OPINION WHETHER TRUST SHOULD APPLY OR NOT . |
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