On October 15, 2024, the Central Board of Direct Taxes issued Notification No. 111/2024 to amend the Income-tax Rules, 1962, effective retroactively from October 1, 2024. The amendments primarily affect Form No. 10A and Form No. 10AB. Key changes in Form No. 10A include the removal of the reference to “2C” and a new declaration format requiring the applicant to confirm the accuracy of the provided details and to communicate any alterations in their trust or institution. Adjustments were made to the serial numbers and notes for clarity and compliance, including new requirements for supporting documents based on the institution’s formation. The revisions aim to streamline the registration process under sections 12A and 80G of the Income-tax Act, enhancing the clarity of obligations for applicants. In Form No. 10AB, similar omissions and a declaration format have been introduced. The explanatory memorandum certifies that no individual will be adversely affected by the retrospective application of these rules.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 111/2024- Income Tax | Dated: 15th October, 2024
G.S.R.638(E).—In exercise of the powers conferred by section 295 read with sub-clauses (i), (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, first and second provisos to clause (23C) of section 10, clauses (i), (ii), (iii) and (iv) of the first proviso to sub-section (5) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:─
1. Short title and commencement: – (1) These rules may be called the Income-tax Amendment (Seventh Amendment) Rules, 2024.
(2) They shall deemed to have come into force from the 1st day of October, 2024.
2. In the Income-tax Rules, 1962, in Appendix-II,–
(a) in Form No. 10A,–
(i) in the heading, the figure, letter and word “2C or ” shall be omitted;
(ii) below the table and before the heading “Notes to fill Form No. 10A”, for the portion beginning with the words and figures “I_, son/daughter of” and ending with the words and brackets “(strike whichever is inapplicable)”, the following shall be substituted, namely:-
“I __________ , son/daughter of_________________ , hereby declare that the details given in the form are true and correct to the best of my knowledge and belief.
I undertake to communicate forth which any alteration in the terms of the trust/society/nonprofit company, or in the rules governing the Institution, made at any time hereafter. I also declare that I am filing this form in my capacity as ___________ (designation) having permanent account number (PAN)_______________ and that I am competent to file this form and verify it.
Date:
Signature
(Applicable only for section code 2)
I further undertake that I am applying for registration under the section code 2 and the activities of the _____________ (Name of the institution, trust or fund) having permanent account number (PAN) _____________ have not commenced on or before the date of making this application.
Date:
Signature.”;
(iii) Under the heading “Notes to fill Form No 10A”,–
(I) for the serial number 2, the following shall be substituted, namely:-
“2. Application for registration under section 12A/80G select one of the following code in row 2:
| 1 | Sub-clause (i) of clause (ac) of sub -section (1) of section 12A | 01 |
| 2 | Item (A) of sub-clause (vi) of clause (ac) of sub-section (1) of section 12A | 02 |
| 11 | Clause (i) of first proviso to sub-section (5) of section 80G | 11 |
| 12 | Sub-clause (A) of clause (iv) of first proviso to sub-section (5) of section 80G | 12 |
(II) in serial number 7, in the table, for entries at Relevant Law/Portal “Registration u/s 10(23C) clause (iv)/(v)/(vi)/(via) of Income-tax Act, 1961”, the following shall be substituted, namely:-
| “Registration u/s 10(23C) clause (iv)/(v)/(vi)/(via) of Income-tax Act, 1961 | 02 | Mandatory | Number of Order granting approval | Date of Order | Jurisdiction details of the Income-tax Authority which granted the registration is to be provided | First date of the previous year from which the approval is effective”; |
(III) in serial number 10.,–
(A) in item (a), the figures and word “07/08/09/10 or” shall be omitted;
(B) in item (b), the figures “, 03/04/05/06” shall be omitted;
(IV) in serial number 12, in the table,–
(A) for Section code 02 and entries relating thereto, the following shall be substituted, namely:-
| “02 |
|
(B) Section code “03/04/05/06” and entries relating thereto, shall be omitted;
(C) Section code “07/08/09/10” and entries relating thereto, shall be omitted;
(D) for Section code “1, 3, 4, 5, 6, 11” and entries relating thereto, the following shall be substituted, namely:-
| “1, 11 |
|
(b) in Form No. 10AB,–
(i) in the heading, the figure, letter and word “2C or ” shall be omitted;
(ii) below the table and before the heading “Notes to fill Form No. 10AB”, for the portion beginning
with the words and figures “I__________________ , son/daughter of” and ending with the words and brackets “(strike whichever is inapplicable)”, the following shall be substituted, namely:-
“I _______ , son/daughter of_____________ , hereby declare that the details given in the form are true and correct to the best of my knowledge and belief.
I undertake to communicate forth with any alteration in the terms of the trust/society/non-profit company, or in the rules governing the Institution, made at any time hereafter. I further declare that
I am filing this form in my capacity as _______________ (designation) having permanent account number (PAN) ______ and that I am competent to file this form and verify it.
Date:
Signature
(Applicable only for section code 4A)
I further undertake that I am applying for registration under the section code 4A having commenced activities on dd/mm/yyyy and also that no income or part thereof of the_______________ (Name of the institution, trust or fund) having permanent account number (PAN)________ has been excluded from the total income on account of applicability of sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10 or section 11 or 12 for any previous year ending on or before the date of making this application on dd/mm/yyyy, at any time after the commencement of such activities.
Date:
Signature.”;
(iii) Under the heading “Notes to fill Form No. 10AB”, in serial number 2, in the table, the numbers 5, 6, 7, 8, 9, 10, 11, 12, 12A, 12B, 12C, 12D and the entries relating thereto, shall be omitted.
[Notification No. 111/2024/ F.No.370142/20/2024-TPL]
SOURABH JAIN, Under Secy.
Explanatory Memorandum: This amendment is effective from 1st day of October, 2024. Accordingly, it is hereby certified that no person is being adversely affected by giving retrospective effect to these rules.
Note. – Principal rules were published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), vide notification number S.O. 969(E), dated the 26th March, 1962 and was last amended vide notification number G.S.R. 309(E), dated 4th June, 2024.
