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<h1>Finance Act 2023 amends Section 12AB: New conditions for application rejection, registration cancellation, and provisional trust registration.</h1> Section 12AB of the Income-tax Act has been amended by the Finance Act, 2023, effective October 1, 2023. Changes include the insertion of additional references in clause (b) of sub-section (1) and the substitution of item (B) in sub-clause (ii) to specify conditions under which applications are rejected and registrations canceled. Clause (c) is revised to allow provisional registration of trusts or institutions for three years. Sub-section (4) is amended to include an additional clause (g), addressing incomplete or incorrect applications under section 12A.