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Provisions related to Trusts/NPOs/Charitable Institutions are the subject matter of constant changes over the past 3 years. The CBDT is bent on streamlining the Income Tax issues relating to trusts which are long pending; The Apex Court has also in a series of judgements held against the trusts. Tru
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The due date for filing applications in Form No. 10A or Form No. 10AB has been extended to 30th September 2023, for applications where the original due date had expired prior to this extension.
The due date for furnishing the statement of donation in Form No. 10BD and the certificate of donation in Form No. l0BE for donations received during the financial year 2022-23 is 30th June 2023.
Failure to file the statement of donation in Form No. 10BD and certificate in Form No. 10BE by the due date means the donations received would not be eligible for deduction to the donor.
Provisional approval or registration for sections 10(23C), 11, or 80G is effective from the assessment year relevant to the previous year of application and is valid for three assessment years, subject to the relevant section's provisions.
The statement of accumulation in Form No. 10 and Form No. 9A must be furnished at least two months before the due date of furnishing the return of income. However, accumulation will not be denied if the statement is furnished on or before the due date of the return of income under section 139(1).
For Forms 10B and 10BB, 'electronic modes' include payments made via account payee cheque, account payee bank draft, or through the electronic clearing system via a bank account.
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