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Manual - Exempted Income u/s 10 - Assessee Specific
Following conditions must be satisfied for claiming exemption u/s 10(23A):-
1. The institution applies its income, or accumulates it for application, solely to the objects for which it is established.
2. The institution is approved by the Central Government.
Exemption for professional institutions under section 10(23A) requires Central Government approval and exclusive application of income to objects. Exemption under section 10(23A) requires that an institution apply its income, or accumulate it for application, solely to the objects for which it is established, and that the institution be approved by the Central Government; both conditions are cumulative for claiming the exemption. of Press 'Enter' after typing page number.
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