In a move aimed at easing the burden on taxpayers, the Central Board of Direct Taxes (CBDT) has extended the due date for filing Form 10A/Form 10AB under the Income-tax Act, 1961. Circular No. 07/2024 dated April 25, 2024, has pushed the deadline to June 30, 2024.
This extension comes in response to numerous representations received by the CBDT, highlighting the genuine hardships faced by trusts, institutions, and funds. The previous extension, granted through Circular No. 06/2023, had set the deadline at September 30, 2023.
Under this latest extension, certain provisions of section 10(23C), section 12A, section 80G, and section 35 of the Act are covered. Additionally, the CBDT has clarified that existing trusts, institutions, or funds that failed to file Form 10A for Assessment Year 2022-23 within the extended due date can now surrender the Form 10AC and apply for registration for AY 2022-23 as an existing entity in Form 10A until June 30, 2024.
Furthermore, trusts, institutions, or funds whose applications for re-registration were rejected solely due to late filing or filing under the wrong section code are also eligible to submit fresh applications in Form 10AB by the extended deadline.
Department has directed to that all applications must be filed electronically through the e-filing portal of the Income Tax Department. The Circular No. 07/2024 has been made available for reference on www.incometaxindia.gov.in.
This extension offers much-needed relief to entities navigating the complexities of tax compliance, providing them with additional time to fulfill their regulatory obligations.
