Tax Guru

Late Form 10B Filing Insufficient to Deny Section 11 Exemption: ITAT Ahmedabad

The case examined denial of section 11 exemption at the processing stage due to late filing of Form 10B. The Tribunal ruled that such delay is a curable procedural defect and cannot justify denial of ...
Hosted on MSN

Income Tax Rule Change: Relief for companies, trusts and others for claiming benefit of lower tax, tax audit and others with new condonation of delay rules

The Ministry of Finance through the Central Board of Direct Taxes (CBDT) has issued a circular which essentially condones delay in filing Form no. 9A, 10, 10B and 10BB for AY 2018-19 and subsequent ...
Tax Guru

Late Filing of Form 10B Does Not Deny Section 11 Exemption

The Tribunal ruled that exemption for charitable trusts cannot be denied merely due to belated filing of Form 10B. It reaffirmed that the requirement is directory, not mandatory, when the audit report ...