TMI BlogIncome-tax Amendment (3rd Amendment) Rules, 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... ement. - (1) These rules may be called the Income-tax Amendment (3rd Amendment) Rules, 2023. (2) They shall come into force from the 1st day of April, 2023. 2. In the Income-tax Rules, 1962 hereinafter referred to as the principal Rules, for rule 16CC , the following rule shall be substituted, namely:- 16CC.Form of report of audit prescribed under tenth proviso to section 10(23C) .-The report of audit of the accounts of a fund or institution or trust or any university or other educational institution or any hospital or other medical institution which is required to be furnished under clause (b) of the tenth proviso to clause (23C) of section 10 shall be in- (a) Form No. 10B where- (I) the total income of such fund ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds rupees five crores during the previous year; or (II) such trust or institution has received any foreign contribution during the previous year; or (III) such trust or institution has applied any part of its income outside India during the previous year; (b) Form No. 10BB in other cases. Explanation .- For the purposes of sub-clause (II) of clause (a), the expression foreign contribution shall have the same meaning assigned to it in clause (h) of sub-section (1) of section 2 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010). . 4. In the principal Rules , for Form no. 10B , the following form shall be substituted, namely:- FORM No. 10B [ See rule 16CC and 17B ] Audit report under clause (b) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * my/our opinion and to the best of * my/our information, and according to information given to * me/us, the said accounts give a true and fair view- (i) in the case of the balance sheet, of the state of affairs of the above named * fund or trust or institution or university or other educational institution or hospital or other medical institution as on __________;and (ii) in the case of the Income and Expenditure account or Profit and Loss account, of the income and application or profit or loss of its accounting year ending on .. subject to the following observations/qualifications- (a) . (b) .. .. (c) .. .. The prescribed particulars are annexed hereto. Place . Date . Signed Accountant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other educational institution or hospital or other medical institution. * I/We have obtained all the information and explanations to the best of *my/our knowledge and belief which are necessary for the purposes of the audit. In * my/our opinion, proper books of account have been maintained at the registered office of the above named fund or trust or institution or university or other educational institution or hospital or other medical institution at the address mentioned at row 11 of the Annexure : In *my/our opinion and to the best of *my/our information and according to explanations given to *me/us, the particulars given in the Annexure are true and correct subject to following observations or qualifications, if any- (a) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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