|
Disclaimer: The contents of this document are for information purposes only. This aims to enable public to have a quick and an easy access to information and do not purport to be legal documents.
Viewers are advised to verify the content from Government Acts/Rules/Notifications etc. |
Form 10B and Form 10BB are audit reports for trusts or institutions registered under Section 12AB or approved under Section 10(23C) of the Income-tax Act
The audit report Form 10B and Form 10BB must be furnished at least one month prior to the due date of furnishing the return of income under Section 139(1).
Who is required to file Form 10B?
The trusts or institutions registered under Section 12AB or approved under Section 10(23C) who satisfy any of the following conditions must file an audit report in Form 10B.
a) If the total income of the trust or institution, without giving effect to the provisions of Sections 11 and 12 or Section 10(23C) (iv), (v), (vi), (via), exceeds Rs.5 crores during the previous year;
b) If such trust or institution has received any foreign contribution during the previous year; or
c) If such trust or institution has applied any part of its income outside India during the previous year.
Who is required to file Form 10BB?
The trusts or institutions registered under Section 12AB or approved under Section 10(23C) satisfying all of the following conditions must file an audit report in Form 10BB:
a) If the total income of the trust or institution, without giving effect to the provisions of Sections 11 and 12 or Section 10(23C) (iv), (v), (vi), (via), is up to Rs.5 crores;
b) If such trust or institution has not received any foreign contribution during the previous year; and
c) If such trust or institution has not applied any part of its income outside India during the previous year.