CBDT notifies New Audit Reports to be furnished by Charitable or Religious Trusts

 ​    Notification No. 7/2023, dated 21-02-2023 … Continue reading “CBDT notifies New Audit Reports to be furnished by Charitable or Religious Trusts”
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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

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