Delay in filing trust registration can be condoned if reasonable cause exists. Effective Oct 1, 2024. Prevents permanent exit from exemption.

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....Provision for condonation of delay in filing application for registration by trusts or institutions u/s 12AB, enabling the Principal Commissioner/Commissioner to condone the delay if reasonable cause exists. Applicable from October 1, 2024. Aims to prevent permanent exit from exemption regime due to delayed filing.....