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Rule 2BBB of Income Tax Rules 1962: Percentage of Government Grant [Clause (23C) of Section 10]

Rule 2BBB - Percentage of Government grant for considering university, hospital etc. as substantially financed by the Government for the purposes of clause (23C) of section 10

For the purposes of sub-clauses (iiiab) and (iiiac) of clause (23C) of section 10, any university or other educational institution, hospital or other institution referred therein, shall be considered as being substantially financed by the Government for any previous year, if the Government grant to such university or other educational institution, hospital or other institution exceeds fifty per cent of the total receipts including any voluntary contributions, of such university or other educational institution, hospital or other institution, as the case may be, during the relevant previous year.


Extra Notes for Readers:

- Rule 2BBB was introduced by the Income-tax (Thirteenth Amendment) Rules, 2014, w.e.f. 12-12-2014.



Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.
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