Sir if any organisation used the earlier year accumulated amount in the current year, whether it will be added in application or not. If we are adding then taxable income is coming in negative.
@for all the subscribers and viewers: There is a little interpretation change for Point No. 37. It's only for disclosure purposes and not required to be matched with the application of income. In fact, if current year's income is applied, it's not required to be filled in any source of fund.
Even Income portal or any other books not able to guide what our Shri AGGRAVALJI 🙏, even on phone call he advice gently and wisely , God Bless you forever Sir
@@NGOenabler sir if the public charitable Trust Or society regtd under society's act having provisional regtn in Income tax under sec. 12 A of the act whose voluntary contribution received during 22-23 is less than 5 crores need to file form 10 b or 10 bb. Note no foreign contribution and foreign applications are there
Sir 1. University registered u/s 12a can apply income outside India for subscription and other approval from different universities for the benefit of student ?? 2. Rental income from property held by trust will be considered as business income or not as University is charging GST on rent ?? 3. Services given by University like verification of documents of past student on which University is charging GST, will be considered as business income or not ??
Hello, In our opinion, 1. Yes, they can spend but need to report separately in the respective rows given in the return and new form 10B (10bb shall not be applicable for such organisations) 2. No, rental income is never a business income, irrespective of whether gst is charged or not. 3. Services given related to education and it's students , should not be considered as business because that's not the primary objective of the organisation
@@NGOenablersir as per section 11 income derived from property held under trust exempt to the extent it applied in India. So in my opinion if trust registered u/s 12a, income applied outside India can not be considered as application. Please correct me if I am wrong.
Sir TDs receivable ko Trust ke case mein current year ki income treat karenge ya next year ki. Second TDS payable including salary TDS jo trust ne deduct Kiya h current year mein aur 31-03-2023 ko pay nai Kiya tha aur 7april ko pay Kiya government ko woh current year means 2022-23 ka expense treat karenge ya nai
I think it's better to disclose ! But since they are asking payments above 50lacs and TDS is also required to be disclosed as to how much it was deducted, so a bit unclear on this. But for conservative approach, let's disclose it
There is no clarity in the act regarding the same. Technically they might consider that the tax audit is not filed yet. So, Form 10BB should be filed now and Condonation should be filed. Hopefully some clarity will be there soon from CBDT
Sir if a university received grant from centre and state government then whether it will be considered in balance sheet or not ? If not then in which column in form 10b it will be filled
If a hostel is running by a school registered u/s 12 A only for students of the school,will it not be treated as incidental operation for furtherance of its main object,ie; education.Separate set of books are mandatory for hostel activities
I think firstly check the organisation's profile address on the portal. If that is correct, then recheck the section related to member details, where the addresses are mentioned.
Sir, I cannot fill schedules. I have filled all the previous panels but when i click on schedules the error shows "pls complete panels first". I cannot see the word "completed" as it is showing in ur video after completing panles.
How to revise form 10B ? when I try to revise form 10B there is no option to select file type like original or revised. When I try to upload revised form 10B, portal is showing error message : Wrong form type is selected. Please guide how to upload revised form 10B.
Sir if any organisation used the earlier year accumulated amount in the current year, whether it will be added in application or not. If we are adding then taxable income is coming in negative.
No it will not come. Thats the technical issue in the form
So where to show the utilisation of earlier years accumulation in the application of income
It's there in 15% accumulated amount ! I have spoken about it
@for all the subscribers and viewers:
There is a little interpretation change for Point No. 37. It's only for disclosure purposes and not required to be matched with the application of income. In fact, if current year's income is applied, it's not required to be filled in any source of fund.
Even Income portal or any other books not able to guide what our Shri AGGRAVALJI 🙏, even on phone call he advice gently and wisely , God Bless you forever Sir
Grateful for your support sir
Like the way Sir you are hand holding with your Dummies Guide. Appreciate your guidance and regards
very nice and detailed presentation, immensely helpful
❤️❤️❤️
Nicely explained sir, thank you
Thank you sir for your superb explanation 🎉
You are welcome
Really awesome explanation ❤
Thank you so much!
Thank u so much sir 🙏
Nice explaination
Sir, Good work and very very useful and enlightening. I wish you all the best and please carry on the good work sir
Thank you
👌
Further I request you to post a video about filing ITR7 clause by clause , just like your video about filling of form 10 B.
Sure will do that soon
kindly please put video for ITR 7 Detailed
Sure! Will do it soon
Should depreciation add in application of fund?? Where we have to shown depreciation??
No it should not be added ! It's specifically not allowed as per Section 11(6)
Ok so what is the treatment of depression?? And where fixed assets addition shown in audit report?
Sir please upload a video on ITR 7
Sure will do that soon
@@NGOenabler sir if the public charitable Trust Or society regtd under society's act having provisional regtn in Income tax under sec. 12 A of the act whose voluntary contribution received during 22-23 is less than 5 crores need to file form 10 b or 10 bb.
Note no foreign contribution and foreign applications are there
Where to show the 15% of income which have been set apart in Form 10 ?
Form 10B or 10BB?
Sir
1. University registered u/s 12a can apply income outside India for subscription and other approval from different universities for the benefit of student ??
2. Rental income from property held by trust will be considered as business income or not as University is charging GST on rent ??
3. Services given by University like verification of documents of past student on which University is charging GST, will be considered as business income or not ??
Hello,
In our opinion,
1. Yes, they can spend but need to report separately in the respective rows given in the return and new form 10B (10bb shall not be applicable for such organisations)
2. No, rental income is never a business income, irrespective of whether gst is charged or not.
3. Services given related to education and it's students , should not be considered as business because that's not the primary objective of the organisation
@@NGOenabler Sir Do they need prior approval from department before apply such income outside India if application amount exceed 500000 ??
@@NGOenablersir as per section 11 income derived from property held under trust exempt to the extent it applied in India. So in my opinion if trust registered u/s 12a, income applied outside India can not be considered as application. Please correct me if I am wrong.
Sir tax receivable aur tax payable ko current year mein consider karna h ya next year
Please elaborate the query is not clear
Sir TDs receivable ko Trust ke case mein current year ki income treat karenge ya next year ki.
Second TDS payable including salary TDS jo trust ne deduct Kiya h current year mein aur 31-03-2023 ko pay nai Kiya tha aur 7april ko pay Kiya government ko woh current year means 2022-23 ka expense treat karenge ya nai
If I paid donation more than 50 lacs to other trust so it will consider under that 50 lacs points in point no 31, application of income
I think it's better to disclose ! But since they are asking payments above 50lacs and TDS is also required to be disclosed as to how much it was deducted, so a bit unclear on this. But for conservative approach, let's disclose it
Hi
I had filled form 10B in state of form 10BB
What should I do, pls advise
There is no clarity in the act regarding the same. Technically they might consider that the tax audit is not filed yet.
So, Form 10BB should be filed now and Condonation should be filed.
Hopefully some clarity will be there soon from CBDT
Sir if a university received grant from centre and state government then whether it will be considered in balance sheet or not ? If not then in which column in form 10b it will be filled
It should be considered if included in the consolidated audit report.
@@NGOenabler then it will not be reported in form 10b ??
What if form 10AB not filed but activities commenced?
If 6 months already over since the start of activities, the provisional registration shall be deemed to have been expired
If a hostel is running by a school registered u/s 12 A only for students of the school,will it not be treated as incidental operation for furtherance of its main object,ie; education.Separate set of books are mandatory for hostel activities
Yes ofcourse it's an integral part of education! It will be covered under furtherance of objects
@@NGOenabler whether it will be considered as business income??
I have filled all the details in form 10B properly but json what i m uploading is showing error in that
Either the clause numbers of 12A Registration details are not filled properly or there might be a technical glitch
While generating json. Error is coming form 10b new address country must hv required... Any solution?
I think firstly check the organisation's profile address on the portal. If that is correct, then recheck the section related to member details, where the addresses are mentioned.
cant file form 10B without mandatory field 0f section 13(3), though its not applicable to our trust, wat to do ????
I told in my video that you need to fill one member atleast! Because it's a mandatory field ..
Sir, I cannot fill schedules. I have filled all the previous panels but when i click on schedules the error shows "pls complete panels first".
I cannot see the word "completed" as it is showing in ur video after completing panles.
Something must still be pending ! And completed will reflect after each section is filled. Must be some issue ! Need to check
Is your problem solved ?
While uploading JSON error of”Form 10bnew Address: required key country not found “ how to resolve?
I think some issue in writing the address of organisation or the members .. kindly check
Hey i am having the same issue. Is this solved?
How to revise form 10B ? when I try to revise form 10B there is no option to select file type like original or revised. When I try to upload revised form 10B, portal is showing error message : Wrong form type is selected. Please guide how to upload revised form 10B.
May be some technical issue. The process is same
Sir Form 10B Filing Time Mai '' Required key (form 10b new proviso sec A) not found " is type k ek Error show horaha hai ....
10B ka new schema aaya hai! That's why this error might be showing ! Last 2 days it was not getting filed
Sir solution kya hai iska