Filing of Income Tax Return

In my opinion, the entities registered u/s 23BBA, are not required to file return of income.

The bodies or authorities which are covered under s. 10(23BBA) are not statutorily required to file any return of income under s. 139 nor any tax is required to be deducted at source from such authority under s. 194A.

This has been held in the Hon'ble Orissa High Court in the case Shri Jagannath Temple Managing Committee Vs. Commissioner of Income Tax & Ors. (2008) .

Regards,

Nikhil.

Section 139(4C) deals with the filing of return of such institutions but section 10(23BBA) is not specified in section 139(4C).

In my opinion you are not required to file return.

Hi

No, the above trust is not required to file the income tax returns.

Hi,

Any Trust with a gross total income of more than Rs.2.5 lakhs is required to file income tax returns mandatorily. Also, the following types of Trusts are required to file income tax return mandatorily, irrespective of gross total income.

Research Association

News agency

Association or institution.

Fund or institution

University or other educational institution

Mutual Fund

Securitisation trust

Investor Protection Fund

Core Settlement Guarantee Fund

Venture capital company or venture capital fund

Trade union

Body or authority or Board or Trust or Commission

Infrastructure debt fund

Business trust

Now if the trust does not fall under any of the above categories, then you may apply the cause that the income will become exempt by virtue of section 10(23bba) making it unconditionally exempt and hence they are not statutorily required to file return under section 139. Also, there is a circular 18 which could be of great help to you.

Thanks

Damini