Amendment of section 80G.

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....om which the said approval is sought; (B) commenced and where no income or part thereof of the said institution or fund has been excluded from the total income on account of applicability of sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10 or section 11 or section 12 for any previous year ending on or before the date of such application, at any time after the commencement of such activities:"; (ii) in the second proviso,-- (a) in clause (ii),-- (1) in the opening portion, after the word, brackets and figures "clause (iii)", the words, brackets, figures and letter "or sub-clause (B) of clause (iv)" shall be inserted; (2) in sub-clause (b), for ....

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....iic) and (iiid) of clause (a) of the said sub-section. This amendment will take effect from 1st April, 2024 and will, accordingly, apply in relation to the assessment year 2024-2025 and subsequent assessment years. First proviso to sub-section (5) of the said section, inter alia, provides for the time within which institution or fund referred to in clause (vi) of the said sub-section is required to make an application to the Principal Commissioner or Commissioner for approval. It is proposed to substitute clause (iv) of the first proviso to sub-section (5) to provide that the institution or fund, referred to in clause (vi) of the said sub-section, which is not covered by clause (i), (ii) or (iii) of the said proviso, may make an ap....

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....e objects and the genuineness of its activities under item (A) of sub-clause (a) of the said clause, and compliance of the requirements under item (B) of sub-clause (a) of the said clause, pass an order in writing,-- (I) in a case referred to in clause (ii) or clause (iii) of the first proviso, rejecting such application and also cancelling its approval; or (II) in a case referred to in the proposed sub-clause (B) of clause (iv) of the first proviso, rejecting such application. after affording it a reasonable opportunity of being heard. It is also proposed to amend clause (iii) of the second proviso of the said sub-section to provide that where the application is made under sub-clause (A) of clause (iv) of the first ....