Income Tax Form 10AB Condonation Request for Section 12A Now Available on E-Filing Portal
Form 10AB condonation request for Section 12A registration is now available on the Income Tax e-filing portal for delayed applications by charitable trusts and institutions
The Income Tax Department has now made it possible for charitable trusts, religious institutions, and similar organizations to file a condonation request for Form 10AB through the Income Tax e-filing portal. This new option has been introduced after the changes made by the Finance Act (No. 2), 2024. This facility will help those trusts and institutions who missed the deadline to apply...
The Income Tax Department has now made it possible for charitable trusts, religious institutions, and similar organizations to file a condonation request for Form 10AB through the Income Tax e-filing portal. This new option has been introduced after the changes made by the Finance Act (No. 2), 2024.
This facility will help those trusts and institutions who missed the deadline to apply for registration under Section 12A of the Income Tax Act, 1961, which is required to claim tax exemption.
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What is Form 10AB
Charitable and religious trusts need to be registered under Section 12A to get exemption from income tax.
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- Form 10AB is used to apply for this registration or to renew it.
- Many organizations first get provisional registration using Form 10A, and later they must apply through Form 10AB for final registration.
If the organization fails to apply on time, it may lose the benefit of tax exemption. Now, with the new rule, these organizations can apply late by filing a condonation request explaining the reason for the delay.
The Finance Act (No. 2), 2024 added a new rule that allows the tax department to condone (excuse) the delay in applying for registration. This means if an organization has a good reason for not applying on time, it can still submit the application with an explanation. The department will decide whether to accept the reason and allow the late filing.
How to File the Condonation Request?
1. Log in to the Income Tax e-filing portal (www.incometax.gov.in).
2. Select the option to file Form 10AB.
3. Choose the condonation request option while filing the form.
4. Provide the reason for the delay and complete the form.
5. Submit using either a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).
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The request will be reviewed, and the department will decide whether the reason for the delay is acceptable.
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