India’s Central Board of Direct Taxes (CBDT) has released Circular No. 07/202 on Saturday, 25 April 2024, which extends the deadline for filing Form 10A/Form 10AB under the Income-tax Act, 1961 (the ‘Act’) until 30 June 2024.
The tax department previously pushed back the deadline for submitting Form 10A/Form 10AB until 30 September 2023. This extension had been granted multiple times earlier by the department for trusts, institutions, and funds, aiming to alleviate genuine hardships faced by taxpayers.
CBDT clarifies that existing trusts, institutions, or funds that missed filing Form 10A for AY 2022-23 by the extended deadline but subsequently obtained provisional registration as new entities (Form 10AC) can now surrender Form 10AC and apply for registration as existing entities for AY 2022-23 by submitting Form 10A until 30 June, 2024.
Similarly, trusts, institutions, or funds whose re-registration applications were rejected due to late filing or incorrect section code can also reapply by submitting Form 10AB by the extended deadline.
All applications must be filed electronically via the Income Tax Department’s e-filing portal, as outlined in Circular No. 07/2024.
