TaxTMI 
TaxTMI 
Sir, An organisation being Trust whose income is chargable under Sec 11 and 12 of Income Tax Act is allowed to accumulate its income to be utilised in the future years in case its application of income falls short of 85%. However, there are two Forms available namely Form 9A and Form 10. Should both these forms to be filed for accumulation purpose. What exactly is the difference between these two forms. Pls clarify.
Form 9A and Form 10 of Income Tax Act
04 Sep 2019 
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Permitted accumulation limits require filing prescribed form to validate charitable application and permit deferred use of accumulated funds.
Trustes exempt under section 11 may elect two distinct accumulation options: an indefinite, unconditional retention option and a limited-period accumulation option requiring electronic submission of the prescribed form that states the purpose for investment and subjects accumulated sums to specified investment and utilisation conditions. Alternatively, when application falls short because funds were not received or for similar reasons, a different prescribed form may be filed to deem the shortfall to have been applied for the year, with rules determining when actual application must occur. (AI Summary)
Trustes exempt under section 11 may elect two distinct accumulation options: an indefinite, unconditional retention option and a limited-period accumulation option requiring electronic submission of the prescribed form that states the purpose for investment and subjects accumulated sums to specified investment and utilisation conditions. Alternatively, when application falls short because funds were not received or for similar reasons, a different prescribed form may be filed to deem the shortfall to have been applied for the year, with rules determining when actual application must occur. (AI Summary)