TMI BlogAmendment of section 80G.X X X X Extracts X X X X X X X X Extracts X X X X ..... nd , the words approved by the Principal Commissioner or Commissioner; shall be substituted; (b) after sub-clause (vii), the following shall be inserted, namely: (viii) the institution or fund prepares such statement for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Principal Commissioner or Commissioner, for grant of approval, (i) where the institution or fund is approved under clause (vi) [as it stood immediately before its amendment by the Finance Act, 2020], within three months from the date on which this proviso has come into force; (ii) where the institution or fund is approved and the period of such approval is due to expire, at least six month ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iso,- (a) call for such documents or information from it or make such inquiries as he thinks necessary inorder to satisfy himself about- (A) the genuineness of activities of such institution or fund; and (B) the fulfilment of all the conditions laid down in clauses (i) to (v); (b) after satisfying himself about the genuineness of activities under item (A), and the fulfilment of all the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he period of three months, six months and one month, respectively, calculated from the end of the month in which the application was received: Provided also that the approval granted under the second proviso shall apply to an institution or fund, where the application is made under (a) clause (i) of the first proviso, from the assessment year from which approval was earlier granted to such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prescribed income-tax authority or the person authorised by such authority, subject to verification in accordance with the risk management strategy formulated by the Board from time to time. ; (iii) after sub-section (5D), the following sub-section shall be inserted, namely:- (5E) All applications, pending before the Commissioner on which no order has been passed under clause (vi) of sub- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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