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Tax Dept Extends Deadline For Registration By Charitable Trusts Till

The income tax department has decided to extend the deadline for charitable and religious trusts to submit registration applications with tax authorities until June 30. This extension comes after multiple previous extensions, with the last one stretching until September 30, 2023. The decision to further prolong the deadline to June 30, 2024, was made in response to representations received by the Central Board of Direct Taxes (CBDT), aiming to alleviate genuine hardships faced by taxpayers.

Form 10A, used for applying for income tax exemption, and Form 10AB, utilized for renewing permanent registration, are the key forms involved. Existing trusts, institutions, or funds that failed to file Form 10A for the assessment year 2022-23 within the previous extended deadline but later applied for provisional registration as a new entity and received Form 10AC, now have the opportunity to surrender Form 10AC and apply for registration as an existing entity until June 30, 2024.

Furthermore, trusts, institutions, or funds whose applications for re-registration were declined solely due to late filing or filing under the wrong section code can submit fresh applications in Form 10AB within the extended deadline of June 30, 2024. This extension aims to provide relief to entities facing difficulties in adhering to the earlier deadlines and ensures that they can fulfill their registration requirements without unnecessary obstacles.

The CBDT’s decision underscores its commitment to facilitating compliance for charitable and religious trusts while recognizing the challenges they may encounter in meeting regulatory obligations.

By extending the deadline, the tax department aims to strike a balance between regulatory requirements and the practical realities faced by these organizations, ultimately fostering a smoother and more supportive regulatory environment.

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