Income tax return big update for Form-10B

Income tax return big update for Form-10B: The Income Tax Department of India has uploaded notification to submit form 10 B. All The Eligible tax payers have to submit this form to the Income Tax Department. If your trust or institution is Registered under Section 10 (23c) and section 12A of income tax act 1961, Then you have to contact your CA to submit the audit report of income tax department. Today we are providing you Complete information of Income tax return big update for Form-10B & latest update on Audit report for Form 10b in Income Tax Department of India. 

Income tax return big update for Form-10B

Income Tax Department Released Form 10B

Income Tax Department Has released Income tax return big update for Form-10B Utility for financial year 2023-24 on the official website on 24 August 2023. This utility home is very important for Institutions such  trusts, Funding trust, Educational institutions, University, Hospital, Medical and other trust which are receiving the amount for public welfare from the public. the government has released the form 10 B utility on 24 August. all the trust and eligible units can download the utility from the official website to fill your information on the website of Income Tax Department timely.

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About Income tax return big update for Form-10B

While filing income tax return, there are many forms which are useful for redemption of the amount from income tax department. form 10A is also related to the redemption of amount of the tax payer. if you have applied for form 10A or for you are running any religious trust or any charitable, education institutions. Taxpayers for the owner of these institutions have to submit the annual budget or the annual income of the trust which is generated by the trust across year. The main purpose of this form is to get the information about these trust and charitables and provide the information to the government. however this amount is not taxable. so you do not need to pay any tax for the income which is generated by these institutions and trusts. 

File Form 10B

However the trust should be registered on the official website of Income Tax Department to file form 10B. but you need to hire your CA to report the audit of form 10 B for your institution. Only registered Chartered Accountants can only file From 10B. you have to add your CA by entering your details on the website after that your CA will file the audit report of form 10B on the behalf of your institution.

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Eligibility to File Form 10B

You should complete the following terms and conditions from the Income Tax Department to file your audit report under form 10B with the help of your CA

  • The tax payer and the chartered accountant should be registered user of Income Tax Department e Filing portal
  • The status of PAN of the tax payer and the Charter accountant should be active on the official website of income tax department e filing portal.
  • Your CA should be registered under MY CA services portal. If CA is not registered under this portal then you should firstly add his on this portal with your trust
  • Your chartered accountant should have authorised Registration and Active digital signature certificate – DSC
  • The institution or religious trust should be registered under the section 12A,And tax payer should also have selected from 10A while filing income tax return for the financial year.

View Form 10B

The form 10B utility is available on the official website of Income Tax Department. you can visit to the department and click on the notification link where you can see a link to download the utility of Form B. where you can see a Zip file of all the documents which are uploaded by income tax return so you can download all the documents in single zip file. however you can also click on this link to direct download from 10 B utility from the official website of Income Tax Department : Form 10B Utility Download zip file

How to file Form 10B Audit Report 

Firstly You have to add your CA on the my CA service portal to provide him the access to file the audit report of your institutions Form 10B. After that chartered accountant will provide various information through online mode on the portal and prepare the order report of your trust/ educational institution/ Welfare Trust/ religious trust/ charitable/ Medical Centre and other public trusts. 


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