TaxTMI 
TaxTMI 
Amendment of Rules 2C, 2CA and 11AA and Form Nos 10G, 56 and 56G of the Income-tax Rules, 1962-draft notification for inputs from the stakeholders and the general public
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....ct, 1961 (the Act), for exemption of income received by any person on behalf of any other fund or institution established for charitable purposes, any trust (including any other legal obligation) or institution wholly for public religious purposes or wholly for public religious and charitable purposes, rule 2C of the Income-tax Rules, 1962 (the Rules) provide for filing of application manually in Form No 56 to the Principal Commissioner or the Commissioner. 2. Similarly, for grant of approval under sub-clauses (vi) and (via) of clause (23C) of section 10 of the Act, for exemption of income received by any person on behalf of any university or other educational institution existing solely for educational purposes and not for purposes of pro....
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....e draft notification proposing the above amendments is enclosed and it is requested from the stakeholders and general public to provide inputs electronically at the email address, ustpl1@nic.in, latest by November 12, 2018. Encl : As above. (Niraj Kumar) Under Secretary (TPL)-I Tel No : 011-2309 5468 E-mail : ustpl1@nic.in [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION New Delhi, October ...... 2018 INCOME-TAX SO (E). ...... In exercise of the powers conferred by the first proviso to clause (23C) of sub- section (1) of section 10 and clause (vi) of sub-section (5) of sectio....
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....copy of the instrument creating or establishing it; (b) where the applicant is created, or is established, otherwise than under an instrument, self-certified copy of the document evidencing its creation, or establishment; (c) self-certified copy of registration with Registrar of Companies or Registrar of Firms and Societies or Registrar of Public Trusts, as the case may be; (d) where the applicant has been in existence during any year or years prior to the financial year in which the application is made, self-certified copies of its accounts and balance sheet (audited accounts and balance sheet along with the audit report, where audit is required under the relevant laws) for the preceding three previous years or since inception, which....
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....ecurity, archival and retrieval policies in relation to the said form so furnished.". (ii) for 'rule 11AA', the following rule shall be substituted, namely :- "Requirements for approval of an institution or fund under section 80G. 11AA (1) For approval under clause (vi) of sub-section (5) of section 80G, the institution or fund (hereinafter 'the applicant') shall be required to file application in Form No 10G, accompanied by the following documents, namely :- (a) where the applicant is created, or is established, under an instrument, self- certified copy of the instrument creating or establishing it; (b) where the applicant is created, or is established, otherwise than under an instrument, self-certified copy of th....
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....electronically,- (i) under digital signature, if the return of income is required to be furnished under digital signature; (ii) through electronic verification code in a case not covered under clause (i). (3) Form No. 10 G shall be verified by the person who is authorised to verify the return of income under section 140, as applicable to the assessee. (4) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall specify the data structure, standards and procedure of furnishing and verification of Form10G and be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said form so furnished. (5) The P....