exemption u/s 10(23C)(iiiad)

[ketanvyas1975]

an educational trust is not eligible for exemption u/s 11 in the absence of registration u/s 12AA. Hence, they alternatively want to claim exemption u/s 10(23C)(iiiad) for which the condition is that annual average receipts should be less than 1 crore. My question is how to calculation this limit of Rs. 1 crore - (1) only fees income and other income credited to income and expenditure acccount will be counted ? or (2) the corpus donation received by the trust will also be included for 1 crore limit? Please guide me in the matter with applicable case laws.

[ketanvyas1975]

can anybody please guide me in the matter?

[satishcgarg]

Exemption u/s 10(23) is not talking about the corpus donation received. hence will be taxable if registration u/s 12a is not taken.

Satish Garg
9818415390

[ketanvyas1975]

any other expert views in the matter?