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# financeact2020

1 posts in `financeact2020` tag

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Income tax

Tax-Exempt Status and Section 12AB: Must-Know Rules for Charitable Trusts

Significant modifications were made to charitable trust registrations under Section 12AB of the Finance Act 2020, which replaced Sections 12A and 12AA. The validity, due dates, and compliance requirements for trusts under Section 12AB are highlighted in this blog. Additionally, it describes the repercussions of non-compliance and provides practical advice on how trusts might successfully preserve their tax-exempt status.