The Central Board of Direct Taxes (CBDT) has issued a circular standardizing the process of filing an application for approval/renewal of an Electoral Trust under Section 2(22AAA) of the Income Tax Act, 1961 to be filed with Form A.
Under clause (22AAA) of Section 2 of the Income-tax Act, 1961 Central Board of Direct Taxes is empowered to approve an ‘Electoral Trust’ for the benefit of provisions of Section 13B of the Income-tax Act, 1961.
As per clause 5(1)(a) of the Electoral Trust Scheme, 2013, an application for approval under Section 2(22AAA) of the Act is to be made in duplicate in Form A. In order to avoid procedural delay in processing these applications, the applicants are advised to file along with the application in Form A, on or before the prescribed date, the duly filled in and signed check-list accompanied with documents required therein, before the Commissioner of Income Tax/Director of Income Tax under whose jurisdiction their cases fall. The applicant shall also enclose a copy of the said checklist while sending the copy of their application to Member(IT&R), CBDT in terms of clause 5(1)(b) of Electoral Trust Scheme, 2013.
Subscribe Taxscan Premium to view the JudgmentBuy books of essential tax practice with exciting offers at shopscan.in
