CBDT has extended the deadline for filing Form 10A/Form 10AB by trusts, institutions and funds under the Income Tax Act till June 30, 2024.
New Delhi. Taxpayers have got a big relief. In fact, the Central Board of Direct Taxes i.e. CBDT on Thursday (April 25) has extended the deadline for filing Form 10A/Form 10AB by trusts, institutions and funds under the Income Tax Act till June 30, 2024.
According to news agency IANS, trusts, institutions and funds get registered by filling Form 10A while Form 10AB is used for renewal of registration. Even before this, CBDT had extended the date for filing Form 10A/Form 10AB till 30 September 2023.
CBDT extends the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 for trusts, institutions & funds upto 30th June, 2024.
Circular No. 7/2024 dated 25/04/2024 issued.
Through this, further opportunity has been provided to trusts, institutions & funds to… pic.twitter.com/pyXuM4umaZ
— Income Tax India (@IncomeTaxIndia) April 25, 2024
The CBDT clarified that the extended due date is also applicable in cases where an existing trust, institution or fund failed to file Form 10A for assessment year 2022-23 within the extended due date, and subsequently, a new entity. Applied for provisional registration as Form 10AC and received Form 10AC. These trusts can now surrender Form 10AC and fill Form 10A by June 30 and apply for registration as an existing trust, institution or fund for assessment year 2022-23.
Form 10A/Form 10AB will be filed online through e-filing portal.
CBDT said those trusts, institutions or funds whose renewal applications were rejected merely on the grounds of late filing or filing under wrong section code may submit a fresh application in Form 10AB within the June 30 deadline. Can. As per Form 10A/Form 10AB, applications will be filed online through the e-filing portal of the Income Tax Department.
