NGO Quiz

How many provisos does clause 10(23C) have?

• 21

• 22

• 23

• 24

St. Francis Xavier School has approval under S. 10(23C)(vi) which expires on 31.03.2025. By which date should the renewal of approval be applied ?

• By 30 Sep 2024

• By 31 Dec 2024

• By 31st March 2025

• No renewal required. Approval is perpetual.

St. Francis Xavier School enjoys approval under S. 10(23C)(vi). It now wants to print books and distribute for free to poor children. Will it still enjoy the approval?

• No. It has to reapply for 10(23C)(vi) approval stating new purpose.

• No. It has to apply for registration under S. 12.

• Yes, as printing books are covered under education purpose.

• Yes, as giving free books is charitable purpose.

An important circular, i.e., Circular No. 7 of 2024 has been discussed in the Class. What is the purpose of this Circular?

• It extends the date for filing of returns for NGOs.

• It provides clarifications with respect to budget provisions in Finance Act, 2024 concerning NGOs.

• It clarifies the exemption regimes under S. 10(23C) and S. 11/12.

• It extends the date for filing of Form 10A/AB.

A new Society has opened a school and has a handful of students. How should it apply for exemption?

• Exemption is automatic.

• It should apply under Form 10AB

• It should apply under Form 10BB

• It should apply under Form 10 AC.

In the context of registration, what does 'commencement of activity' mean?

• Date of incorporation of trust?

• Date of opening of bank account?

• Date of receipt of 1st donation?

• Date when trust started applying its income towards its objects?

How much basic exemption is available to a Trust/Society if it has income beyond exempt income?

• 100000

• 200000

• Nil

• None of the options is correct

XYZ gives a donation of Rs. 5,000 to the Shri Ram Janmabhoomi Teerth Kshetra (Ayodha) Trust but is refused 80G certificate. Why?

• Minimum donation should be Rs. 50,000 for 80G.

• Religious Trusts are not eligible for 80G Certificate.

• Trust sells entry ticket, hence not eligible for 80G.

• None of the options are correct.

Which of the following is NOT 'Charitable Purpose' as per Section 2(15)?

• Poor Relief

• Trade Associations (Ex. CII, FICCI etc.)

• Medical Relief

• Environmental Preservation

A Society is running a school and is also running a hostel for its students and charges must be paid for the hostel facilities. Will the school be eligible for exemption?

• Yes, but only under S. 11/12.

• Yes, but only under S. 10(23C)

• No.

• Both under 10(23C) and S. 11/12 as per choice of Assessee.