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Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No.10B for Assessment Year 2018-19 and subsequent years - Income Tax - 02/2020

Extract

..... ffect to the provisions of section 11 and section 12 exceeds the maximum amount which is not chargeable to income tax in any previous year, the accounts of the trust or institution for that year have to be audited by any accountant as defined in the Explanation below sub section (2) of section 288 and the person in receipt of the income is required to furnish along with the return of income for the relevant assessment year the report of such audit in the prescribed from duly signed and verified .....

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Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No.10B for Assessment Year 2018-19 and subsequent years - Income Tax

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..... rred for reasons beyond the control of the assessee. 4. Accordingly, the CBDT issued circular No. 10/2019 circulated through F.No. 197/55/2018-ITA-I in supersession of earlier circular/Instruction issued In this regard, and with a view to expedite the disposal of applications filed by such trust or institution for condoning the delay in filing Form No. 10B and in the exercise of the powers conferred under section 119(2) of the Act, the Central Board of Direct Taxes vide Circular No. 10/ 2019 dat .....

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Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No.10B for Assessment Year 2018-19 and subsequent years - Income Tax

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..... by the CBDT that where there is delay of upto 365 days in filing Form No. 10B for Assessment Year 2018-19 or for any subsequent Assessment Years, the Commissioners of Income-tax are hereby authorized to admit such belated applications of condonation of delay u/s 119(2) of the IT Act and decide on merits. 6. The Commissioners of Income-tax shall, while entertaining such belated applications in filing Form No. 10B, satisfy themselves that the assessee was prevented by reasonable cause from filing .....

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Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No.10B for Assessment Year 2018-19 and subsequent years - Income Tax

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