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of <h1>Union Budget 2025-26: Simplified Tax Provisions for Charitable Trusts Under Sections 12A, 12AB, and 13</h1> The Union Budget 2025-26 introduces simplifications to tax provisions for charitable trusts and institutions. Trusts or institutions registered under section 12AB of the Act are eligible for income tax exemptions, provided they meet specified conditions. Section 12A outlines the application procedure for registration, essential for claiming exemptions under sections 11 and 12. Section 12AB details the approval and cancellation processes for such registrations. Additionally, section 13 stipulates that exemptions are forfeited if the trust or institution fails to meet the specified conditions. These changes aim to streamline and rationalize the taxation process for charitable entities.
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