Audit report form compliance: trusts may correct misfiled audit form to meet prescribed exemption requirement. Trusts and institutions must furnish an audit report in the prescribed form to claim exemption under clause (23C) of section 10 or under sections 12AA/12AB. The Rules amended for assessment year 2023-24 prescribe Form No. 10B or Form No. 10BB according to specified conditions; misfiling of these forms causes non-compliance. The Board, under section 119, allows trusts/institutions that filed the incorrect form on or before the original due date to submit the correct Form No. 10B/10BB for the assessment year by the extended date specified in the order.
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Audit report form compliance: trusts may correct misfiled audit form to meet prescribed exemption requirement.
Trusts and institutions must furnish an audit report in the prescribed form to claim exemption under clause (23C) of section 10 or under sections 12AA/12AB. The Rules amended for assessment year 2023-24 prescribe Form No. 10B or Form No. 10BB according to specified conditions; misfiling of these forms causes non-compliance. The Board, under section 119, allows trusts/institutions that filed the incorrect form on or before the original due date to submit the correct Form No. 10B/10BB for the assessment year by the extended date specified in the order.
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