Trusts have to apply for income tax exemption by May 31

Last updated: 18 May 2007

A charitable or religious trust or institution, which wants to be condoned for delay in earlier years in registration under the Income Tax Act for exemption, can file its application by May 31. Registration under Section 12 A of the Act is a pre-condition for a charitable or religious trust or institution to be exempt from income under sections 11 and 12. Earlier, for registration, the trust or the institution had to apply in form no.10 A to the Commissioner of Income Tax within a year of
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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