TMI BlogConditions for applicability of sections 11 & 12 - Section 12AX X X X Extracts X X X X X X X X Extracts X X X X ..... son in receipt of the income has made an application for registration of the trust to the commissioner and such trust is registered under section 12AA (applicable till 31.03.2021) or under section 12AB (On or after 01.04.2021). Where the total income of the trust computed without giving effect to the provisions of sections 11 and 12 exceeds the maximum amount not chargeable to income ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... istration; (b) sub-clause (iii) of clause (ac) of section 12A(1), from the first of the assessment year for which it was provisionally registered: Notes: - Exemption is available from PY in which application is made but exemption u/s 11 12 shall also be available for earlier AYs for which assessment is pending before Assessing Officer on the date of registration ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e tenth proviso to clause (23C) of section 10; or (b) a trust or institution which is required to be furnished under sub-clause (ii) of section 12A(1)(b), shall be in- (a) Form No. 10B where- (I) the total income of such fund or institution or trust or university or other educational institution or hospital or other medical institution, without giving effect to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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