Income Tax update: Deadline to file form 10A/10AB extended; what it is, last date and other details

Income Tax update: The Central Board of Direct Taxes (CBDT) has extended the deadline for charitable and religious trusts to file registration applications with tax authorities. The Income Tax Department said that Form 10A/10AB can be filed until June 30, 2024.

What is Form 10A and Form 10AB?

Form 10A application is for trusts, non-governmental organisations (NGOs) and non-profit organisations (NPOs) to register themselves for income tax exemption.

Form 10AB is filed by trusts, institutions and funds to renew their permanent registration.

The CBDT had extended the due date for filing Form 10A and Form 10AB multiple times. The last extension was until September 30, 2023.

"Considering the representations received by CBDT requesting for further extension of due date for filing of such Forms beyond the last extended date of 30.09.2023, and with a view to avoid genuine hardships to taxpayers, CBDT has extended the due date of filing Form 10A/ Form 10AB up to June 30, 2024, in respect of certain provisions of section 10(23C)/ section 12A/ section 80G/ and section 35 of the Act," the tax regulator said.

CBDT clarified that if any trust or institution did not file Form 10A for assessment year (AY) 2022-23 within the extended due date but later applied for provisional registration as a new entity and received Form 10AC, can now take advantage to surrender the received Form 10AC. They can then apply for registration as an existing trust, institution or fund in Form 10A until June 30, 2024, the IT department said.

Trusts and institutions whose re-registration applications were rejected for late filing or filing under the wrong section, can also submit new Form 10AB application before June 30, 2024 deadline.

The applications, as per Form 10A and Form 10AB, can be filed on the e-filing portal of the Income Tax Department.