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TaxTMI 
Question - What are the changes in section 10(23C) in Finance Bill 2015 ?
Furnishing of return of income by certain universities and hospitals referred to in section 10 (23C) of the Act
28 Feb 2015 
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Mandatory return filing for government-funded universities and hospitals under clause 23C will apply from assessment year 2016-17.
The amendment provides that entities referred to in sub-clauses (iiiab) and (iiiac) of clause (23C) of section 10, being universities, educational institutions, hospitals or other institutions wholly or substantially financed by the Government, shall be mandatorily required to file their return of income. This requirement will take effect from 1 April 2016 and apply to the assessment year 2016-17 and subsequent assessment years. (AI Summary)
The amendment provides that entities referred to in sub-clauses (iiiab) and (iiiac) of clause (23C) of section 10, being universities, educational institutions, hospitals or other institutions wholly or substantially financed by the Government, shall be mandatorily required to file their return of income. This requirement will take effect from 1 April 2016 and apply to the assessment year 2016-17 and subsequent assessment years. (AI Summary)