Income tax

Key Details on CBTD's Registration Extension

In this blog post, we'll discuss the recent extension of CBTD's registration and provide you with all the essential details you need to know. Whether you're a current or potential registrant, this post will give you insights into the latest updates and changes to CBTD's registration process.

The Central Board of Direct Taxes (CBDT) Extends Registration Deadline for Charitable Trusts Providing Relief

The Central Board of Direct Taxes (CBDT) has announced an extension of the registration deadline for charitable and religious trusts seeking tax exemptions under sections 10(23C), 12AB, 80G, and 35 of the Income Tax Act, 1961. The new deadline is June 30, 2024, providing trusts with additional time to complete their registration process.

The previous deadline for registration was September 30, 2023, which had posed a challenge for many trusts, given the complex registration process. The decision to extend the deadline is a welcome move, providing relief to trusts struggling to meet the earlier deadline.

The CBDT's decision is based on representations received from various trusts requesting an extension of the deadline. The extension aims to minimize the filing hardships faced by these trusts and ensure that they can avail the benefits of tax exemptions on their income used for charitable purposes.

It is important to note that registration is essential for trusts seeking tax exemptions on the income used for charitable purposes. The registration process involves submitting an application to the CBDT, along with necessary documents and payment of fees.

If you manage a charitable or religious trust seeking tax exemptions, ensure that you submit the registration application by the new deadline. It is advisable to consult a tax advisor familiar with the registration procedures for guidance. The Income Tax department website also provides resources on trust registration forms and processes.

In conclusion, the CBDT's decision to extend the registration deadline is a welcome move for charitable and religious trusts seeking tax exemptions. The extension provides trusts with additional time to complete the complex registration process and avail the benefits of tax exemptions. Trusts must take advantage of the extension and ensure that they complete the registration process before the new deadline of June 30, 2024.

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Krishna Gopal Varshney

An editor at apnokaca

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Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.

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