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    WHAT IS SECTION 10(23C)?

    • Under Section 10(23C) of the Income Act there is a specific exemption available to:
    • Government Educational universities;
    • Non-government Educational universities; and
    • Educational institutions.
    • Hospital
    • Other medical institution

    EXEMPTION LIMIT

    1. Government Educational universities and Institutions: Fully exempt; after satisfying these two conditions:

    • Annual receipts solely for educational purposes; and
    • Financed by the Government

    2. Non-government Educational universities and Institutions: Exemptions depend upon the annual receipts by the university or Educational Institution.

    • If annual receipts are up to Rs. 1 crore: Fully exempt in case of annual receipts solely for educational purposes.
    • If annual receipts exceeding Rs. 1 crore: exempt in case of:
    • Annual receipts solely for educational purposes; and
    • Separate approval from the prescribed authority.

    3. The separate application for claiming exemption is required to be made in Form No. 56D along with the necessary supporting documents before the Commissioner of Income Tax for getting separate approval.

    REQUIRED DOCUMENTS:

    1. Registration Certification of NGO
    2. MOA & AOA of NGO
    3. PAN Card of NGO
    4. List of the Trustees/governing body/members with address, email id and contact number.
    5. Details of work done in different places with addresses.
    6. Progress Report since incorporation or last 3 years.
    7. Balance Sheet, Audit Report & ITR (if any), since incorporation or last 3 years.
    8. Annual reports showing appropriation of income towards objects of the Organization.
    9. Any other documents/ affidavit/ asked by the Income Tax Department.