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of <h1>Clarification on Filing Deadlines for Trusts u/s 12AA to Claim Exemption u/s 11 of Income Tax Act.</h1> The circular clarifies the time allowed for filing income returns for trusts registered under section 12AA of the Income Tax Act, 1961, following the insertion of Clause (ba) in section 12A(1). It specifies that to claim exemption under section 11, such trusts must file their income returns within the time allowed under section 139. This clarification addresses issues where exemptions were denied due to late filing, resulting in significant tax demands. The amendments are effective from April 1, 2018, applicable from the assessment year 2018-19 onwards, and orders raising demands should be rectified accordingly.
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