https://www.taxtmi.com/article/detailed?id=5860 Exemption under Section 10(23C)(iiiab) requires an institution to exist solely for educational purposes and not for profit, and to be wholly or substantially financed by the Government. Reasonable, incidental surpluses applied to educational objects are acceptable, but recurring, growing surpluses from fees and investment that exceed reasonable needs indicate existence for profit. Fees routed through affiliated colleges are not government financing; the proportion of state grants relative to total receipts is decisive. en-us Wed, 08 Oct 2014 07:58:31 +0530 Wed, 08 Oct 2014 07:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5860 Exemption under Section 10(23C)(iiiab) requires an institution to exist solely for educational purposes and not for profit, and to be wholly or substantially financed by the Government. Reasonable, incidental surpluses applied to educational objects are acceptable, but recurring, growing surpluses from fees and investment that exceed reasonable needs indicate existence for profit. Fees routed through affiliated colleges are not government financing; the proportion of state grants relative to total receipts is decisive. Articles Income Tax Wed, 08 Oct 2014 07:58:31 +0530 https://www.taxtmi.com/article/detailed?id=5860