A Detailed explanation about the changes that took place in New Form 10B – Step by step explanation of New Form 10B with live example –

The new Form 10B which is applicable from AY 2023-24 i.e. FY 2022-23 is for the:

a) Organisations having total income more than Rs. 5 Crores during the previous year, or; b) Organisations which have received even a single penny as foreign contribution during the previous year, or; c) Organisations who have spent any amount outside India during the said previous year.