CBDT Notified Seventh Amendment Rules, 2024 to Amend Form 10A and Form 10AB

Notification No. 111/2024, dated 15-10-2024

The Central Board of Direct Taxes (CBDT) has notified the Seventh Amendment Rules, 2024, to the Income-tax Rules, 1962. These rules retrospectively change existing Form 10A and Form 10AB for registration under section 12A/80G and section 10(23C) from October 1, 2024.

The Finance (No. 2) Act 2024 introduced significant changes to the tax exemption regimes for charitable trusts and institutions. The amendments made by the Finance (No. 2) Act 2024 shifted the approval-based exemption under Section 10(23C) to the registration-based exemption under Section 12A. It has been provided that no approvals under the second proviso to Section 10(23C) shall be granted for applications made on or after 01-10-2024.

The CBDT has notified the amendments in Form 10A and Form 10AB to bring about the consequential changes.

The amendments have simplified the categorisation of forms filed under various codes and clarified the information to be furnished in the application for registration under sections 12A, 10(23C), and 80G.

Further, the declaration section of the Forms has been amended so that declarations regarding non-commencement of activities will apply only to applicants who have applied for registration prior to their commencement of charitable activities on or before making the application.

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