Proposed Amendment Streamlines Trust Registration Process with Direct Final Approval; Provisional Approval Required for Pre-Activity Trusts.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Registration of Trust - For removing difficulty in earlier provision of registration, it has been proposed to amend the provision of registration to allow for direct final registration/approval - in case registration 'before commencement of activities' shall make application for provisional approval u/s10(23C) or 12A(1)(ac)(vi) or 80G as the case may be and in case 'activities already commenced' shall make application for regular approval u/s10(23C) or 12A(1)(ac)(vi) or 80G as the case may be to PCIT/CIT.....