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Taxation Central Ministry of Finance Income Tax Act, 1961

Income-Tax Amendment (3rd Amendment) Rules, 2023

21-Feb-2023 | G.S.R. 118(E)

The Central Board of Direct Tax has issued the Income-Tax Amendment (3rd Amendment) Rules, 2023, amending the provisions of Income-tax Rules,1962, effective from 1st April 2023.
By virtue of this amendment, the purpose for which Audit Report in Form 10B and 10BB under Rule 16CC and Rule 17B is filed has been widened as follows-
The report of the audit shall be in Form No. 10B-
(i) the total income of such fund or institution or trust or university or other educational institution or hospital or other medical institution or charitable or religious trust exceeds rupees five crores during the previous year; or
(ii) such fund or institution or trust or university or other educational institution or hospital or other medical institution or charitable or religious trust has received any foreign contribution during the previous year; or
(iii) such fund or institution or trust or university or other educational institution or hospital or other medical institution or charitable or religious trust has applied any part of its income outside India during the previous year.
(iv) Form No. 10BB in other cases.

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