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The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2024 dated November 18, 2024, addressing the condonation of delay in filing critical income tax forms Form No. 9A, 10, 10B, and 10BB for the Assessment Year (AY) 2018-19 and subsequent assessment years. The circular, issued under Section 119(2)(b) of the Income-tax Act, 1961, aims to provide relief to taxpayers who faced genuine difficulties in meeting filing deadlines. Key Highlights of the Circular Forms Covered: Form N
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FAQ :
Circular No. 16/2024 allows the condonation of delay for filing specific income tax forms (9A, 10, 10B, and 10BB) for Assessment Year 2018-19 and onwards, providing relief to taxpayers facing genuine difficulties.
The forms covered are Form No. 9A (application for charitable/religious income option), Form No. 10 (statement of income accumulation), Form No. 10B (audit report for trusts), and Form No. 10BB (audit report for institutions under Section 10(23C)).
This condonation of delay applies to Assessment Year 2018-19 and all subsequent assessment years.
For delays up to 365 days, the Pr. Commissioners/Commissioners of Income Tax can grant condonation. For delays exceeding 365 days, the Pr. Chief Commissioners/Chief Commissioners/Director Generals of Income Tax are authorised.
Applications for condonation of delay will not be entertained beyond three years from the end of the assessment year for which the form is to be filed.
Applicants must demonstrate that they were prevented by a reasonable cause from filing on time and that their case involves genuine hardship on merits. For Form 10, it must also be shown that accumulated income was invested or deposited as per Section 11(5) of the Act.
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