Schedule IE- 2 – Income and Expenditure Statement AY 2026-27

Schedule IE- 2 – Income and Expenditure Statement AY 2026-27

‘Schedule IE- 2’ pertains to the Income & Expenditure statement and is applicable to assessees claiming exemption under Section 10(23A) and Section 10(24) of the Income-tax Act, 1961. This schedule is relevant in cases where certain heads of income are taxable, while other receipts are exempt from tax.

This schedule requires the assessee to provide a detail of total receipts of the assessee, including all voluntary contributions (except those that fall under the taxable heads of income), the amount applied towards the objects of the institution, and the income accumulated. It also requires disclosure of any taxable income under house property, business or profession, capital gains, or other sources.

Section 10(23A), Section 10(24) of Income-tax Act, 1961