This development addresses a long-standing procedural ambiguity that had resulted in genuine charitable trusts being denied registration solely on account of delay in filing prescribed forms. The amendment, read in conjunction with the newly inserted proviso to Section 12A(1)(ac), marks a progressive step towards ensuring that procedural lapses do not defeat substantive rights, particularly in the case of bona fide charitable institutions.

As the FY 2025-26 draws to its inexorable close on 31st March 2026, taxpayers, business enterprises, companies, and professionals across the length and breadth of India stand at a critical juncture of fiscal and statutory accountability. The transition from one FY to another is not a mere calendar event, it is a solemn moment of legal reckoning, wherein compliance lapses and procedural omissions crystallise into penalties, interest liabilities, and litigation. PART I : GOODS

One-time relaxation for Verification of tax-returns

SECTION 194N TDS ON CASH WITHDRAWALS

Condonation of delay in filing Return of Income by the Charitable institutions (Form 9A and Form 10) for the Assessment Year 2016- 17, 20...

Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPls) with SEBl...

What is Vivad se Vishwas scheme? The Direct Tax Vivad Se Vishwas Bill, 2020 tabled on lok sabha on Wednesday is introduced to provide...

1. TAX AUDIT THRESHOLD | Increased from one crore to five crores | Provided that the aggregate of all amounts received including amount...