Budget 2024 - Power to Condone delay in application for 12AB Registration
In continuation of our analysis of Union Budget 2024 and its implication on the NPOs, this S&N covers the issues pertaining to the proposed amendment that empowers the PCIT/CIT to condone delays in filing 12AB applications and treat such applications as timely filed if there is a reasonable cause for the delay. These amendments will be effective from 1-Oct-2024. However, no similar schemes are proposed for section 80G approval.
For more details, please go through this issue of Standards and Norms.
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