The extension was made considering the representations received by CBDT requesting for further extension of due date, and with a view to avoid genuine hardships to taxpayers.
Central Board of Direct Taxes (CBDT)
The Central Board of Direct Taxes (CBDT) on Thursday extended the due date for filing Form 10A and Form 10AB under the Income-tax Act, 1961 until 30 June 2024.
Notably, the CBDT had earlier extended the due date for filing Form 10A/Form 10AB by trusts, institutions and funds multiple times to mitigate genuine hardships of the taxpayers till 30 September 2023.
The extension was made considering the representations received by CBDT requesting for further extension of due date, and with a view to avoid genuine hardships to taxpayers.
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The CBDT further clarified that, if any such existing trust, institution or fund had failed to file Form 10A for AY 2022-23 within the extended due date, and subsequently, applied for provisional registration as a new entity and received Form 10AC, can also now avail this opportunity to surrender the said Form 10AC and apply for registration for AY 2022-23 as an existing trust, institution or fund, in Form 10A till 30 June 2024.
It is also clarified that those trusts, institutions, or funds whose applications for re-registration were rejected solely on the grounds of late filing or filing under the wrong section code, may also submit fresh application in Form 10AB within the aforesaid extended deadline of 30 June 2024.
It is to be noted that as per the rule, trusts or institutions, that have received the provisional registration, must apply for a permanent registration by submitting Form No. 10AB at least six months before the expiry of provisional registration or six months within the commencement of charitable activities, whichever is earlier.
The registration will be granted for a period of five years.
As per the new rules, two separate forms have been prescribed for a trust, institution, or NGO.
Form No. 10A is for provisional registration while form No. 10AB is for conversion from provisional registration to permanent registration.
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