Big relief for charitable institutions: CBDT Circular

Big relief for charitable institutions or religious trusts : CBDT Circular 6 of 2023

• The Central Board of Direct Taxes Extension of Timeline date of submission of Filing of Form 10AB & Form 10A extended to 30.09.2023.
• Income Tax section 115TD not applicable on applications made till 30.09.2023
• All pending applications in Income tax Form 10AB with commissioner of income tax(E) considered valid applications & applications rejected earlier solely on account of missing of deadline date to be considered again.
• Timeline date for filling of the certificate of donation in Form No. 10BE & statement of donation in Income Tax Form No. 10BD in respect of donations taking during the FY 2022-2023 to 30.09.2023.
• Central Board of Direct Taxes field that the provisional approval or provisional registration shall be effective from the AY relevant to the PY in which the application is made & shall be valid for a period of 3 AY.
• Statement of accumulation in Income tax Form No. 9A & Form No. 10 is needed to be filling at least 2 months prior to the due date of furnishing return. But deemed/ accumulation application shall not be denied to a trust as long as the statement of deemed/ accumulation application is filling on or before the Timeline date of filling the return.
• It has been suggested that the before description of electronic means includes account payee cheques drawn on a bank, account payee bank draft, and the use of an electronic clearing system via a bank account.
• It is in accordance clarified that the electronic modes referred to in para 18 are in addition to the account payee cheque drawn on a bank, account payee bank draft, or use of an electronic clearing system through a bank account for the purposes of Form No. 10B and Form No. 10BB.
• A/c payee cheque drawn on a bank or an A/c payee bank draft on use of online clearing system via a bank A/c included in ” online modes” in Form 10BB & Form 10B.
• details circular are attached here under : CBDT circular 6 

CBDT Notification No. 111/2024 (Retroactively Effective from October 1, 2024):

Amendments to Form No. 10A and Form No. 10AB: For Form No. 10A, the specific reference to “2C” has been removed. There is also a new declaration format that requires applicants to certify the correctness of the information provided and to notify any changes in their trust or institution’s details. This change adds a layer of accountability for entities seeking registration.