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of <h1>Income-tax Act Section 12A amended: Expanded approvals and registration processes effective October 2024, with delay condonation provisions.</h1> Section 12A of the Income-tax Act is amended to expand the scope of approvals and registrations. Effective October 1, 2024, sub-clause (ii) now includes approvals under sub-clauses (iv), (v), (vi), and (via) of clause (23C) of section 10, alongside existing section 12AB registrations. Sub-clause (iii) similarly incorporates provisional approvals. A new proviso allows the Principal Commissioner or Commissioner to condone delays in filing applications if a reasonable cause is demonstrated, treating late applications as timely filed. These changes aim to streamline and clarify the registration and approval processes for tax purposes.
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