India - Income Tax Act 2010 - Saarc

S. 10(23C) I.T. ACT, 1961 1.84Bill, 2006 receives the assent of the President,* every notificationunder sub-clause (iv) or sub-clause (v) shall be issued or approvalunder 82 [sub-clause (iv) or sub-clause (v) or] sub-clause (vi) or subclause(via) shall be granted or an order rejecting the application shallbe passed within the period of twelve months from the end of themonth in which such application was received:Provided also that where the total income, of the fund or trust orinstitution or any university or other educational institution or anyhospital or other medical institution referred to in sub-clause (iv) orsub-clause (v) or sub-clause (vi) or sub-clause (via), without givingeffect to the provisions of the said sub-clauses, exceeds the maximumamount which is not chargeable to tax in any previous year, such trustor institution or any university or other educational institution or anyhospital or other medical institution shall get its accounts audited inrespect of that year by an accountant as defined in the Explanationbelow sub-section (2) of section 288 and furnish along with the returnof income for the relevant assessment year, the report of such auditin the prescribed form 83 duly signed and verified by such accountantand setting forth such particulars as may be prescribed:]84[Provided also that any amount of donation received by the fund orinstitution in terms of clause (d) of sub-section (2) of section 80G 85 [inrespect of which accounts of income and expenditure have not beenrendered to the authority prescribed under clause (v) of sub-section(5C) of that section, in the manner specified in that clause, or] whichhas been utilised for purposes other than providing relief to thevictims of earthquake in Gujarat or which remains unutilised in termsof sub-section (5C) of section 80G and not transferred to the PrimeMinister’s National Relief Fund on or before the 31st day of March,86[2004] shall be deemed to be the income of the previous year andshall accordingly be charged to tax:]87[***]82. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007.83. See rule 16CC and Form No. 10BB. Rule 12 provides that the return of income shall notbe accompanied by any document or copy of any account or form or report of auditrequired to be attached with return of income under any of the provisions of the Act.84. Inserted by the Taxation Laws (Amendment) Act, 2001, w.r.e.f. 3-2-2001.85. Inserted by the Finance Act, 2002, w.r.e.f. 3-2-2001.86. Substituted for “2003” by the Finance Act, 2003, w.r.e.f. 3-2-2001. Earlier “2003” wassubstituted for “2002” by the Finance Act, 2002, w.r.e.f. 3-2-2001.87. Omitted by the Finance Act, 2002, w.e.f. 1-4-2002. Prior to its omission, the proviso, asinserted by the Finance Act, 2001, w.e.f. 1-4-2002, read as under :“Provided also that where the total receipts of the fund or institution referred to in subclause(iv) or of any trust or institution referred to in sub-clause (v) or of any Universityor other educational institution referred to in sub-clause (vi) or of any hospital or otherinstitution referred to in sub-clause (via) exceed one crore rupees in any preceding year,the fund or trust or institution or University or other educational institution or hospitalor other institution, as the case may be, shall—(i) publish its accounts in a local newspaper; and(ii) furnish along with the application prescribed in the first proviso to this clause, thecopy of the local newspaper in which such accounts have been published;”*13-7-2006.