Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendments to Section 115TD: Trusts Must Apply for Registration or Face Tax on Accreted Income Within 14 Days</h1> Clause 57 of the Finance Bill, 2023 proposes amendments to section 115TD of the Income-tax Act concerning tax on accreted income. It introduces a new clause (iii) in sub-section (3), stipulating that a trust or institution failing to apply for registration or approval within specified periods will be deemed converted into a non-eligible form. Additionally, clause (ii) of sub-section (5) is amended to require payment of tax on accreted income within fourteen days after the previous year ends. The definition of 'date of conversion' in the Explanation is expanded to include the last application date for registration or approval. These changes apply from April 1, 2023, for the assessment year 2023-2024 onward.
TaxTMI 
TaxTMI 
