CBDT notifies New Audit Reports to be furnished by Charitable or Religious Trusts
- News|Blog|Income Tax|
- < 1 minute
- By Taxmann
- |
- Last Updated on 23 February, 2023
Latest from Taxmann
Notification No. 7/2023, dated 21-02-2023
The Central Board of Direct Taxes (CBDT) has notified new Form 10B and Form 10BB that are required to be furnished by charitable or religious trusts, institutions, universities, or other educational institutions under section 10(23C) and section 12A.
The existing Rules 16CC and 17B of the Income-tax Rules, 1962 have been substituted vide Income-tax amendment (3rd Amendment) Rules, 2023 to expand the scope of information that is required to be reported in Form 10B and Form 10BB.
Form 10B is a report of the audit of the accounts of a fund or institution or trust or any university or other educational institution or any hospital or other medical institution which is required to be furnished under clause (b) of the 10th proviso to section 10(23C).
Form 10BB is a report of the audit of the accounts of a trust or institution which is required to be furnished under sub-clause (ii) of section 12A(1)(b).
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
