Free Download FORM NO. 59 Template India PDF Word Format

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Title: FORM NO. 59

Are you searching for a professional FORM NO. 59 format to renew your institution's tax exemption approval under Section 10(23C) of the Income Tax Act, 1961? Our ready-to-use FORM NO. 59 template in PDF or Word format simplifies the process for educational institutions and hospitals across India.

What is FORM NO. 59? FORM NO. 59 is the prescribed application format under the Income Tax Rules, 1962, specifically designed for universities, educational institutions, hospitals, and other medical institutions to apply for the renewal of approval for tax exemption on their income under clause (23C) of Section 10. This form ensures compliance with CBDT guidelines, allowing eligible non-profit entities to continue enjoying tax-free status on income derived from educational or medical activities.

In India, maintaining this approval is crucial for philanthropic organizations to avoid taxation on surplus funds used solely for charitable purposes. Whether you're running a school, college, university, or hospital, using the correct FORM NO. 59 sample guarantees your renewal application is complete and accurate.

Why is FORM NO. 59 Important? Renewing approval via FORM NO. 59 format is vital to sustain tax exemptions, preventing penalties, interest, and loss of benefits. Without timely renewal, institutions risk reassessment of past incomes, leading to hefty tax demands. It demonstrates ongoing adherence to conditions like not engaging in commercial activities, maintaining proper accounts, and applying 85% of income towards objectives. This legal template helps meet court and tax authority requirements seamlessly, saving time and ensuring eligibility for deductions.

Key Elements of FORM NO. 59 Format A comprehensive FORM NO. 59 template includes:

Basic Particulars: Name, address, PAN, date of initial approval, and assessing officer details.
Financial Statements: Audited balance sheets, income & expenditure accounts for the last three years.
Activity Details: Description of educational/medical programs, beneficiaries served, and utilization of funds.
Compliance Declaration: Certification that no part of income is used for non-charitable purposes and investments comply with Section 11(5).
Supporting Documents: Copies of registration, previous approval order, audit reports, and board resolutions.
Verification: Signed by principal officer or authorized signatory.

These sections ensure your FORM NO. 59 sample meets all statutory mandates.

Who Should Use FORM NO. 59?

Non-profit universities and educational institutions under Section 10(23C)(iii-a)/(vi).
Hospitals and medical institutions focused on philanthropic care.
Trusts or societies operating schools, colleges, or research centers in India. Common use cases include periodic renewals every 3-5 years, as mandated by CBDT notifications, especially in civil tax matters or during scrutiny assessments.

Download Your Customizable FORM NO. 59 Today! Get instant access to our free download FORM NO. 59 India in editable Word/PDF format. For premium options, customize with AI assistance or professional legal help to fit your specific needs—perfect for company or court filings. Ready to use and fully compliant!

Final Note While our FORM NO. 59 legal template is designed for ease, always consult a chartered accountant or tax lawyer for personalized advice. Customize it further for your institution's unique scenario. Explore related templates like Form 10A, Section 12A registration, or other tax exemption applications for comprehensive compliance.

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FORM NO. 59

Non-Judicial

FORM NO. 59

[See rule 20]

Application for approval of issue of public companies under section 88(2)(xvi)

of the Income-tax Act

1. Name and address of the public company

2. Date and place of formation/incorporation (enclose certificate of

incorporation under Companies Act, 1956)

3. Nature of business being carried but by the company/number of

years in this business

4. Net worth of the applicant (enclose a copy of the latest audited

financial statement along with last three years audited balance

sheet)

5. The total capital the applicant company proposes to raise through

the present equity/debenture issue

6. The objects of the present equity/debenture issue

7. Whether the present equity/debenture issue conform to the defi-

nition of ?Infrastructure facility? as defined in clause (ca) of sub-

section (12) of section 80-IA of the I.T. Act? If so, give details

8. Details of the eligible issue of capital

Number Face value Premium/discount

? Equity Shares

? Preferential Shares

-Debentures

(Enclose SEBI?s approval)

9. Nature and location of proposed infrastructure facility/power

project (enclose clearance of the concerned authorities and agree-

ment executed with the Government or Government bodies, if

any)

10. Approximate year-wise investment required

11. Sources of proposed investment:

(i) Eligible issue of the capital

(ii) Other sources

(a) ...........????????

(b) ???????????????????

12,. Schedule of development of infrastructure facility/power project

(a) Planned date of commencement of project

(b) Planned date of commencement of operation of the project

13. Accounting policies (furnish the description of significant

accounting policies)

14. Details of management:

(a) Names of directors with their experience, qualifications and

profession

(b) Names of the key personnel

(d) Board of directors of associate organisarions, companies and their

subsidiaries

15. Names and addresses of the bankers

16. Names and addresses of the auditors

17. Copy of the project report, if any.

I certify that the information furnished above is true to the best of my knowledge and belief.

..........................................................

Signatures of the authorised signatory

Note: The application form (in duplicate) should be sent to the Board by the public company along with

the documents as mentioned in the application form.

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Frequently asked questions

What is Form No. 59 used for?→

Form No. 59 is a statutory document under the Income Tax Rules, 1962, in India, used by deductors to report tax deducted at source (TDS) on interest other than on securities under Section 194A to the Assessing Officer.

Is Form No. 59 legally valid in India?→

Yes, Form No. 59 is officially prescribed by the Central Board of Direct Taxes (CBDT) and holds full legal validity across India for TDS compliance purposes.

Does Form No. 59 require stamp duty or any court fee?→

No, as a tax reporting form submitted to income tax authorities, Form No. 59 does not require stamp duty or court fees in India.

In what format can I download Form No. 59?→

Form No. 59 is available for download in editable Word and non-editable PDF formats from the official Income Tax e-filing portal and reliable legal template providers.

Can I edit or customize Form No. 59?→

Yes, you can customize Form No. 59 by filling in specific details like deductor and payee information, but do not alter the prescribed structure to ensure legal validity in India.

Who should use Form No. 59 and when?→

Banking companies, insurers, or persons paying interest u/s 194A must use Form No. 59 and submit it to the Assessing Officer by 30th June of the following financial year.