What is 10b in Income Tax Act?

Section 10B of the Income tax Act provides for exemption of income in case of hundred per cent export oriented undertakings subject to prescribed conditions.

Is it mandatory to file Form 10b online?

However, with effect from Assessment year 2013-14, it has become mandatory to upload online audit report in Form 10B. Income Tax Return, there have been litigations where the Assessing Officer has denied the benefit of tax exemptions under section 11 for delayed filing of Audit Report.

How can I get Form 10b online?

Trust must add CA after log in into their PAN. CA should upload Form No. 10B online after log in into his PAN and then the Trust should approve it after log in into its PAN with DSC of Managing Trustee.

How can I file 10b of income tax?

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What is Form 10b in income tax?

CBDT proposes new audit report Form 10B for charitable trusts & institutions. The proposed new Form 10B appears to have been designed for the tax department to seek more details from charitable trusts or institutions and make the task of auditors as also their clients (charitable institutions) onerous.

What is section 11 of Income Tax Act?

1) Section 11 provides exemption for income derived from property held under trust wholly for charitable or religious purposes to the extent such income is applied for charitable or religious purpose in India. However, this exemption shall be subject to certain conditions.

0:27 3:20 Suggested clip How to file Audit Report of Trust Form10B - YouTubeYouTubeStart of suggested clipEnd of suggested clip How to file Audit Report of Trust Form10B - YouTube

What is Form 10b for trust?

Rule 17B of the Rules provide that said report of audit of the accounts of a trust or institution shall be in Form No. 10B. The Form No 10B besides providing the Audit Report provides for filing of Statement of particulars as Annexure.

Is it mandatory to file Form 10b online?

However, with effect from Assessment year 2013-14, it has become mandatory to upload online audit report in Form 10B. Income Tax Return, there have been litigations where the Assessing Officer has denied the benefit of tax exemptions under section 11 for delayed filing of Audit Report.

Get Form 17 B Filled Sample

Q: What is Form 10b?

10B. See rule 17B Audit report under section 12A(b) of the Income-tax Act, 1961, in the case of charitable. or religious trusts or institutions.

Aug 2, 2014 ... FORM NO. 10B. See rule 17B . Audit report under section 12A(b) of the Income- tax Act, 1961, in the case of charitable or religious trusts or .

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