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The Central Board of Direct Taxes specifies modified reporting requirements for substantial contributors in audit reports for the assessment year 2023-24. Funds, trusts, institutions, universities, educational institutions, and hospitals furnish audit reports in Form No. 10B and Form No. 10BB. Reporting entities provide details for persons who make a total contribution exceeding fifty thousand rupees during the previous year. Entities provide details of relatives and concerns for such persons if available.
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F. NO.370142/4212023-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Circular No. IT 12023 Datcd 09'h October, 2023 Sub: Order under section 119 of the Income-tax Act, 1961 - reg. Audit report in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution, under clause (b) of the tenth proviso to clause (23C) of section 10, or sub-clause (ii) of clause (b) of sub-section (I) of section 12A of the Income-tax Act, 1961 (the Act), as the case may be, is required to be furnished in Form No. lOB I Form No. 10BB.
Representations have been received regarding difficulties in filling details of persons who have made a 'substantial contribution to the trust or institution', that is to say, any person whose total contribution up to the end of the relevant previous year exceeds fifty thousand rupees (as referred to in section 13(3)(b) of the Act).
The matter has been examined with reference to the issue raised in paragraph 2 and it is hereby stated that for the purposes of providing details in (i) Form No. lOB in the Annexure, in row 41 ; and (ii) Form No. 10BB in the Annexure, in row 28, for the assessment year 2023-24:
Copy to the:
PSI OSD to FMI PS/OSD to MoS(F).
PS to the Finance Secretary. [unclear in source] (Sourabh Jam) [unclear in source] Under Secretary (TPL) - I, CBDT
Chairman and Members, CBDT.
Joint Secretaries! CsIT/ Directors/ Deputy Secretaries/ Under Secretaries, CBDT.
C&AG ofindia.
JS & Legal Adviser, Ministry of Law & Justice. New Delhi.
Institute of Chartered Accountants ofindia.
CIT (M&TP). Official Spokesperson ofCBDT.
Web Manager, [unclear in source] DGIT(Systems} with request to upload on the departmental website of incometaxindia.gov.in.
Pro Commissioner of Income-tax (Media & TP) and official Spokesperson, CBDT, New Delhi. II. JCIT, Data-Base Cell for uploading on irsofficersonline.gov.in [unclear in source]
