Central Board of Direct Taxes (CBDT) issued clarification regarding difficulties faced during filling the details of specified person in Form 10B/10BB

Central Board of Direct Taxes (CBDT) has issued circular no. 17/2023 to clarify on filling details in Form No. 10B/ 10BB* of specified person who have made substantial contributions to the trust or institution for the A.Y 2023-24.

Key highlights of the Circular are:

1. Details of person making substantial contributions to the trust or institutions may be provided for such persons whose total contribution during the previous year exceeds Rs. 50,000/-.

2. Details of the relatives of the person making substantial contributions may be provided in the Form No. 10B/ Form No. 10 BB.

3. Details of the concerns in which the above-mentioned person has substantial interest.

* Form No. 10B/ Form No. 10 BB is the audit report required to be furnished in case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution.

Source: Central Board of Direct Taxes