https://www.taxtmi.com/article/detailed?id=11357 Amendment requires entities covered by Section 10(23C) that do not apply the prescribed proportion of income to their objects to file Form No. 10 stating purpose and period of accumulation, invest accumulated amounts in permitted modes, and file by the ITR due date; the accumulation period is capped and excludes periods prevented by court order. Failure to comply - including diversion of funds, cessation of required investments, non utilisation within the accumulation period, or crediting/transferring to certain institutions - results in the accumulated amount being treated as the recipient's income in the relevant year. en-us Wed, 26 Apr 2023 09:23:31 +0530 Wed, 26 Apr 2023 09:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11357 Amendment requires entities covered by Section 10(23C) that do not apply the prescribed proportion of income to their objects to file Form No. 10 stating purpose and period of accumulation, invest accumulated amounts in permitted modes, and file by the ITR due date; the accumulation period is capped and excludes periods prevented by court order. Failure to comply - including diversion of funds, cessation of required investments, non utilisation within the accumulation period, or crediting/transferring to certain institutions - results in the accumulated amount being treated as the recipient's income in the relevant year. Articles Income Tax Wed, 26 Apr 2023 09:23:31 +0530 https://www.taxtmi.com/article/detailed?id=11357