For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Charitable & Religious Trusts Allowed More Time For Registration Compliance

By Staff
|

The CBDT (Central Board of Direct Taxes) has extended the period of re-registering charitable and religious trusts under the Finance Act 2020 to 1 October.

In the view of the unprecedented outbreak of COVID-19 that has caused a humanitarian and economic crisis, the CBDT has decided to implement a new procedure for approval/registration/notification of certain entities by deferring it by 3 months.

Charitable & Religious Trusts Allowed More Time For Registration Compliance

"In view of the unprecedented economic crisis emanating due to the COVID-19 situation, CBDT has deferred the implementation of new procedure for approval/registration/notification of certain entities u/s 10(23C),12AA, 35 & 80G of IT Act,1961 to 1st October,2020," the Tax Department said in a tweet late on Friday.

 

CBDT in a statement had said that concerns were raised over the implementation of the new procedure from 1 June amid the nationwide lockdown to curb the spread of COVID-19.

The Finance Act, 2020 rationalised the procedure relating to approval/registration/notification of these entities wherein already approved/registered/notified entities under sections 10(23C), 12AA, 35, and 80G of the Income-Tax Act, 1961 would be required to file intimation by 31 August. Further, the procedure for approval/ registration/ notification of new entities has also been rationalized with effect from 1 June 2020.

Read more about: income tax registration cbdt
Story first published: Saturday, May 9, 2020, 12:23 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more