Quick Summary
The Central Board of Direct Taxes has released theIncome-tax (6th Amendment) Rules, 2021 wherein, further amendments have been made in Rule 2C of theIncome-tax Rules, 1962. Read the official notification below: MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFIC
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FAQ :
The Income-tax (6th Amendment) Rules, 2021, are amendments made by the Central Board of Direct Taxes (CBDT) to Rule 2C of the Income-tax Rules, 1962, which govern the application process for approval of certain entities.
These amendments came into force on the 1st day of April, 2021.
Rule 2C now specifies the application procedure for obtaining approval for funds, trusts, institutions, universities, hospitals, or other medical institutions under clauses (i), (ii), (iii), or (iv) of the first proviso to clause (23C) of Section 10.
Form No. 10A is required for applications under clause (i) or (iv) of the first proviso to Section 10(23C), while Form No. 10AB is required for applications under clause (ii) or (iii) of the same proviso.
Required documents include self-certified copies of the instrument establishing the applicant, registration documents (e.g., with Registrar of Companies or Public Trusts), FCRA registration if applicable, existing approval orders, and annual accounts for up to three preceding financial years.
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