TMI BlogConditions for applicability of sections 11 and 12X X X X Extracts X X X X X X X X Extracts X X X X ..... of the trust or the establishment of the institution if the 7 [ *** ] 14 [Principal Commissioner or Commissioner] is, for reasons to be recorded in writing, satisfied that the person in receipt of the income was prevented from making the application before the expiry of the period aforesaid for sufficient reasons; ( ii ) from the 1st day of the financial year in which the application is made, if the 8 [ *** ] 14 [Principal Commissioner or Commissioner] is not so satisfied :] 9 [Provided further that the provisions of this clause shall not apply in relation to any application made on or after the 1st day of June, 2007; (aa) the person in receipt of the income has made an application for registration of the trust or institution on or after the 1st day of June, 2007 in the prescribed form and manner to the 14 [Principal Commissioner or Commissioner] and such trust or institution is registered under section 12AA; ] 15 [ (ab) the person in receipt of the income has made an application for registration of the trust or institution, in a case where a trust or an institution has been granted registration under section 12AA or has obtained registration at any t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 section 12, for any previous year ending on or before the date of such application, at any time after the commencement of such activities, ]] 31 [ (b) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of sections 11 and 12 exceeds the maximum amount which is not chargeable to income-tax in any previous year,- (i) the books of account and other documents have been kept and maintained in such form and manner and at such place, as may be prescribed; and (ii) the accounts of the trust or institution for that year have been audited by an accountant defined in the Explanation below sub-section (2) of section 288 before the specified date referred to in section 44AB and the person in receipt of the income furnishes by that date the report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars, as may be prescribed; ] 16 [ (ba) the person in receipt of the income has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 999. Earlier the quoted words were inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 9. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007. 10. Substituted for the provisions of section 11 and section 12 exceeds fifty thousand rupees in any previous year by the Taxation Laws (Amendment) Act, 2006, w.r.e.f. 1-4-2006. Earlier the quoted words were amended by the Finance Act, 1994, w.e.f. 1-4-1995. 11. Omitted by the Finance Act, 2002, w.e.f. 1-4-2002. Prior to its omission, clause (c), as inserted by the Finance Act, 2001, w.e.f. 1-4-2002, read as under : (c) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of sections 11 and 12 exceeds one crore rupees in any previous year, the trust or institution- (i) publishes its accounts in a local newspaper, before the due date for furnishing the return of income under sub-section (4A) of section 139; and (ii) furnishes a copy of such newspaper along with such return. 12. Inserted by the Finance Act, 2007, w.e.f.1-6-2007. 13. Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of October, 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or undertaken modifications of the objects which do not conform to the conditions of registration, within a period of thirty days from the date of the said adoption or modification; (vi) in any other case, at least one month prior to the commencement of the previous year relevant to the assessment year from which the said registration is sought, and such trust or institution is registered under section 12AB; ] 23. Inserted vide THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) ACT, 2020 dated 29-09-2020 w.e.f. 01-04-2021 24. Omitted vide THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) ACT, 2020 dated 29-09-2020 w.e.f. 01-06-2020 before it was read as Provided that the provisions of sections 11 and 12 shall apply to a trust or institution, where the application is made under (a) sub-clause (i) of clause (ac) of sub-section (1), from the assessment year from which such trust or institution was earlier granted registration; (b) sub-clause (iii) of clause (ac) of sub-section (1), from the first of the assessment years for which it was provisionally registered: 25. Substituted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom which the said registration is sought, and such trust or institution is registered under section 12AB; 33. Substituted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, within the time allowed under that section 34. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, Provided further that where registration has been granted to the trust or institution under section 12AA or section 12AB ] , then, the provisions of sections 11 and 12 shall apply in respect of any income derived from property held under trust of any assessment year preceding the aforesaid assessment year, for which assessment proceedings are pending before the Assessing Officer as on the date of such registration and the objects and activities of such trust or institution remain the same for such preceding assessment year: 29 [Provided also] that no action under section 147 shall be taken by the Assessing Officer in case of such trust or institution for any assessment year preceding the aforesaid assessment year only for non-registration of such trust or institution for the said assessment year: Provid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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