CA Jigar Shah (Partner) (2473 Points)
15 March 2024Many trusts have made an error while selecting section code at the time of renewal applications in 2021. It seems there is no remedy to rectify this error
Many trusts are staring at a situation wherein they will loose 80G benefit from 01st April 2024
Has anyone found any remedy for the same?
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 15 March 2024
what is the software that renewal is done?
If a trust selected the wrong section while trying to renew, it could potentially impact their eligibility for Section 80G benefits. However, the specific outcome depends on the details of the situation and the nature of the mistake made during renewal.
Here are some key points to consider:
Section 80G:
Renewal Process:
Impact on 80G Approval:
Consult a Professional:
In summary, while mistakes can happen, it’s crucial to address them promptly to maintain compliance and benefit from tax provisions. 📊💼
CAclubindia
