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<h1>Form 10BB audit certifies accounts and requires detailed disclosures on donations, income application, accumulations, and related-party transactions.</h1> Form 10BB requires the auditor to certify that the financial statements of an exempt fund, trust, institution, university, educational or medical institution agree with books of account, that necessary information was obtained, and that proper books are maintained at the declared place; any observations or qualifications must be stated. The annexed Statement of particulars mandates disclosure of registration and identity details, voluntary contributions (including corpus, foreign and anonymous donations), application and accumulation of income (including the 15% accumulation rule and third proviso accumulations), business income treatment, investments/deposits outside prescribed modes, transactions with specified persons, specified violations, and TDS/TCS and disallowance schedules.
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