TaxTMI 
TaxTMI 
Is audit report is compulsoury for the institutions which are covered U/s 10(23C)(iiiad)
Audit Report for institutions covered U/s 10(23C)(iiiad)
27 Jul 2024 
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Audit requirement: institutions under the charitable exemption must obtain a qualified accountant audit and file Form 10BB when income exceeds exemption.
If an exempt institution's total income, before applying exemption subclauses, exceeds the maximum non taxable amount in a previous year, accounts are required to be audited by a qualified accountant and the audit report must be furnished in Form 10BB with the return of income for the relevant assessment year. (AI Summary)
If an exempt institution's total income, before applying exemption subclauses, exceeds the maximum non taxable amount in a previous year, accounts are required to be audited by a qualified accountant and the audit report must be furnished in Form 10BB with the return of income for the relevant assessment year. (AI Summary)