ITR7: Whether educational institute should claim the exemption u/s 10(23C)(iiiad) the amount of GROSS RECEIPTS or NET INCOME while filing ITR7 ?

Reply-The law exempts the institutions existing solely for educational purposes and not for purposes of profit, if aggregate annual receipts do not exceed the prescribed limit of Rs.one crore.  As per the Instructions to Form ITR-7 (A.Y. 2020-21) Assessee claiming exemption under sections 10(23C)(iiiad) or 10(23C)(iiiae) - Gross Annual Receipts to be filled in Schedule - IE-4