Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ----
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    Act RulesIncome Tax
    Comparison of section 506 "Furnishing of information or documents by an Indian concern in certain ca...
    Act RulesIncome Tax
    Comparison of section 505 "Submission of statement by a non-resident having liaison office." between...
    Act RulesIncome Tax
    Comparison of section 500 "Provisional attachment to protect revenue in certain cases." between the ...
    Act RulesIncome Tax
    Comparison of section 489 "Presumption as to assets, books of account, etc., in certain cases." betw...
    Act RulesIncome Tax
    Comparison of section 488 "Offences by Hindu undivided family." between the Income-Tax Act, 2025 (as...
    Act RulesIncome Tax
    Comparison of section 487 "Abetment of false return, etc." between the Income-Tax Act, 2025 (as pass...
    Act RulesIncome Tax
    Comparison of section 484 "Abetment of false return, etc." between the Income-Tax Act, 2025 (as pass...
    Act RulesIncome Tax
    Comparison of section 483 "Falsification of books of account or document, etc." between the Income-T...
    Act RulesIncome Tax
    Comparison of section 479 "Failure to furnish returns of income." between the Income-Tax Act, 2025 (...
    Act RulesIncome Tax
    Comparison of section 478 "Wilful attempt to evade tax, etc." between the Income-Tax Act, 2025 (as p...
    Act RulesIncome Tax
    Comparison of section 476 "Failure to pay tax collected at source." between the Income-Tax Act, 2025...
    Act RulesIncome Tax
    Comparison of section 476 "Failure to pay tax to credit of Central Government under Chapter XIX-B" b...
    Act RulesIncome Tax
    Comparison of section 475 "Removal, concealment, transfer or delivery of property to prevent tax " b...
    Act RulesIncome Tax
    Comparison of section 470 "Penalty not to be imposed in certain cases." between the Income-Tax Act, ...
    Act RulesIncome Tax
    Comparison of section 469 "Power to reduce or waive penalty, etc., in certain cases." between the In...
    Act RulesIncome Tax
    Comparison of section 465 "Penalty for failure to answer questions, sign statements, furnish informa...
    Act RulesIncome Tax
    Comparison of section 456 "Penalty for failure to furnish statement or information or document by an...
    Act RulesIncome Tax
    Comparison of section 455 "Penalty for furnishing inaccurate statement of financial transaction or r...
    Act RulesIncome Tax
    Comparison of section 452 "Penalty for failure to comply with provisions of section 187." between th...
    Act RulesIncome Tax
    Comparison of section 451 "Penalty for failure to comply with provisions of section 186." between th...
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Notes
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    Act RulesIncome Tax
    Show AI Summary
    Information-furnishing obligation: Indian concerns must produce prescribed documents when foreign interests derive value from India assets.
    An information-furnishing obligation requires an Indian concern to provide prescribed information or documents to the prescribed income-tax authority when a foreign company's or entity's shares or interests derive substantially their value from assets located in India and those assets are held, directly or indirectly, through the Indian concern; specific documents, the authority, the period and the manner of furnishing are to be specified by subordinate prescription.
    Act RulesIncome Tax
    Show AI Summary
    Reporting obligation for liaison offices: annual statement to tax authorities subject to deadlines and particulars as prescribed.
    Non-residents with RBI/FEMA authorised liaison offices must annually prepare and deliver to the Assessing Officer a statement of the office's activities for the tax year in such form, containing such particulars and within such period as may be prescribed, with the deadline and particulars to be specified by subordinate legislation rather than fixed in the statute.
    Act RulesIncome Tax
    Show AI Summary
    Provisional attachment protects revenue during assessments, requiring competent authority approval and revocation on provision of bank guarantees.
    Clause 500 permits an Assessing Officer, with prior Competent Authority approval and by written order, to provisionally attach property during assessment, reassessment of escaped income or specified penalty proceedings; attachment follows the statutory attachment procedure and valuation by a Valuation Officer. Attachment is revocable on furnishing a scheduled bank guarantee generally equal to fair market value (or a lower guarantee if accepted); guarantees may be invoked on default. Temporal limits apply (initial six months with limited extensions) and proceeds are adjusted against existing demands with balances deposited in designated accounts.
    Act RulesIncome Tax
    Show AI Summary
    Presumption as to assets extended to electronic information and computer systems when tendered as prosecutorial evidence.
    The statute extends the evidentiary presumption applicable to assets, books of account and documents found in searches or taken into custody to include information in electronic form and computer systems, applying the presumptive framework when such items are tendered in evidence and qualifying that application by the phrase "so far as may be, apply"; the Act cross-references statutory definitions for electronic information and computer systems to ensure consistent meaning.
    Act RulesIncome Tax
    Show AI Summary
    Karta liability and member culpability: members can be prosecuted regardless of Karta's due diligence defence under the revised provision.
    The provision deems the Karta guilty for offences committed by an HUF unless he proves absence of knowledge or that he exercised all due diligence; members are separately liable if the offence was committed with their consent or connivance or is attributable to their neglect, and the Act clarifies that such member liability applies irrespective of both the Karta's deemed guilt and his due-diligence defence.
    Act RulesIncome Tax
    Show AI Summary
    Corporate vicarious liability tightened: personal liability now operates notwithstanding due diligence where consent, connivance or neglect is shown.
    Section 487 creates both a deeming rule treating companies and those in charge as guilty for corporate tax offences and a separate personal-liability route making directors, managers, secretaries, officers, partners and controlling members individually culpable where an offence is committed with their consent, connivance or attributable to their neglect; a statutory defence allows persons deemed guilty to avoid liability by proving lack of knowledge or that they exercised all due diligence, but the enacted text makes the personal-liability route operate irrespective of the deeming rule and the due diligence defence.
    Act RulesIncome Tax
    Show AI Summary
    Abetment of false return: two-tier custodial penalties and fine where tax impact determines higher or lower sentencing.
    Abetment of false return criminalises abetting or inducing another to make a false tax-related account, statement or declaration where the abettor knows it is false or does not believe it to be true, and prescribes a two tier sentencing regime based on the monetary magnitude of tax, penalty or interest evaded or wilfully attempted to be evaded; textual differences between the Bill and the enacted section are limited to phrasing around liability to fine and an editorial sentence, with no observable change to imprisonment ranges or threshold.
    Act RulesIncome Tax
    Show AI Summary
    Falsification of books: criminalises willful false entries to enable another's tax evasion, allowing prosecution without proving actual evasion.
    Section 483 proscribes falsification of books or other documents when a person wilfully makes or causes a false entry or statement, knowing it to be false or not believing it to be true, with intent to enable another to evade tax, interest or penalty; the offence carries rigorous imprisonment and fine, and it is not necessary to prove that the other person actually succeeded in evading tax.
    Act RulesIncome Tax
    Show AI Summary
    Failure to furnish tax returns: criminal penalties with tiered custody and limited safe harbour for late filing.
    Criminal liability is imposed for wilful failure to furnish a required return of income, with a two-tiered custodial and fine regime linked to the amount of tax evaded. A limited bar to prosecution exists where the return is subsequently furnished within the procedural time references or, for non-companies, where the residual tax shortfall after qualifying payments falls below a de minimis threshold. The scope of the safe harbour depends on the timing rules in the cross referenced procedural subsection.
    Act RulesIncome Tax
    Show AI Summary
    Wilful attempt to evade tax: criminalises deliberate falsification and omissions, with tiered imprisonment and fines.
    Section 478 criminalises a wilful attempt to evade tax and wilful under reporting by prescribing tiered rigorous imprisonment and fines, and it lists illustrative acts-false entries, omissions, possession of falsified books and conduct enabling evasion. The Act relocates and rephrases fine and penalty preservation language into a standalone non prejudice clause and tightens causation wording in an illustrative sub clause. Definitions of key terms and procedural or evidentiary standards are not provided in the text.
    Act RulesIncome Tax
    Show AI Summary
    Failure to remit tax collected at source criminalised, exposing collectors to imprisonment and fine; exception for timely remittance.
    Failure to remit to Government the tax collected at source is a penal offence punishable by imprisonment and fine, targeting persons who collect tax at source and imposing personal liability for payment to Government credit. A narrow temporal exception excludes application where payment has been made on or before the time prescribed for filing the relevant statement, and the provision contains no mitigating grounds, mens rea gradation, or procedural compounding mechanisms.
    Act RulesIncome Tax
    Show AI Summary
    Failure to remit withheld tax attracts criminal liability including imprisonment and fine; safe harbour if credited before filing deadline.
    Failure to remit taxes deducted under Chapter XIX-B or required by specified Notes to the Table in section 393 constitutes a criminal offence punishable by rigorous imprisonment and fine; the offence applies where a person fails to pay amounts to the credit of the Central Government, subject to a temporal safe harbour if payment is made or credited on or before the time prescribed for filing the relevant statement.
    Act RulesIncome Tax
    Show AI Summary
    Fraudulent disposition of property to frustrate tax execution now criminalised, tied specifically to a certificate drawn under section 413.
    The offence criminalises anyone who fraudulently removes, conceals, transfers or delivers any property or interest therein with intent to prevent such property or interest from being taken in execution of a certificate drawn u/s 413; punishment is rigorous imprisonment up to two years and a fine. The enacted text replaces the Bill's broader "as prescribed" formulation with a direct reference to section 413, clarifying the instrument whose execution the offence seeks to frustrate. The clause contains no exceptions, definitions of "fraudulently," or evidentiary rules.
    Act RulesIncome Tax
    Show AI Summary
    Reasonable cause defence prevents penalties when a taxpayer proves it, expanding protection in the enacted provision.
    Section 470 bars imposition of penalties under the listed provisions where a person or assessee proves there was reasonable cause for the failure; it frames the exception as prevailing irrespective of anything in those provisions and places the burden of proof on the person, while not defining "reasonable cause" or prescribing standards, procedures, or timing for such proof.
    Act RulesIncome Tax
    Show AI Summary
    Discretionary penalty waiver: voluntary pre-detection disclosure and cooperation enable administrative leniency, subject to prior approval thresholds and safeguards.
    Section 469 empowers the Principal Commissioner or Commissioner to reduce or waive penalties under section 439 where there is voluntary, pre detection disclosure, good faith cooperation and payment or satisfactory arrangements for tax and interest; sub section (2) contains a deeming rule for "full and true disclosure." Prior approval from a specified senior authority is required where multi year income/disclosure crosses the statutory threshold or where aggregate penalties to be waived under the hardship route exceed the threshold; once discretionary relief is granted for a person no further relief is available for other tax years. Procedural safeguards and a twelve month disposal timeline apply.
    Act RulesIncome Tax
    Show AI Summary
    Tax penalties for procedural non-compliance impose fixed and daily monetary sanctions and designate imposing authorities by statute.
    Clause 465 distinguishes fixed penalties for discrete refusals or omissions from continuing daily penalties for delays or failures to furnish returns, statements, certificates or allow inspections, caps certain penalties by reference to deductible or collectible tax, allocates specified income tax officers to impose such penalties, and defines "income tax authority"; it cross references multiple substantive provisions and contains no express procedural safeguards, appeal route, or mitigation mechanism.
    Act RulesIncome Tax
    Show AI Summary
    Penalty for non-furnishing by eligible investment funds may be imposed as a fixed sanction for late or missing reports.
    The provision authorises the prescribed income tax authority to direct an eligible investment fund to pay a fixed penalty of five lakh rupees where the fund fails to furnish a required statement, information or document within the time prescribed under the referenced provision; the sanction is discretionary and the text contains no exceptions, mitigation procedures or notice stages in the extract provided.
    Act RulesIncome Tax
    Show AI Summary
    Penalty for inaccurate financial statements made mandatory; reporting institutions face per-account liability and recovery rights from account-holders.
    Section 455 imposes a fixed penalty on persons required to furnish statements under section 508(1) for inaccurate information, failure to correct within the period under section 508(8), or non-compliance with due diligence under section 508(9). It also imposes an additional per-account liability on reporting financial institutions where inaccuracies arise from false or inaccurate information furnished by account-holders, and entitles institutions to recover or retain amounts paid from those account-holders. The provision cross-references section 508 and does not set out adjudicatory or appeal procedures.
    Act RulesIncome Tax
    Show AI Summary
    Penalty for failure to provide electronic payment facilities imposes strict daily liability and removes statutory exception to avoid sanction.
    The provision imposes a continuing daily monetary penalty, to be levied by the Assessing Officer, for failure to provide facilities to accept payments through prescribed electronic modes; the Bill included a proviso allowing avoidance of the penalty on proof of good and sufficient reason, but the enacted text omits that proviso, leaving key definitions, evidentiary standards, and procedural modalities unspecified.
    Act RulesIncome Tax
    Show AI Summary
    Penalty for failure to comply: Assessing Officer may impose monetary penalty equal to sums received unless recipient proves good reasons.
    Section 451 authorises the Assessing Officer to impose a penalty equal to the sum received by a person in contravention of the relevant statutory provision; the earlier Bill expressly allowed escape if the recipient proved "good and sufficient reasons," but the enacted text omits that proviso, leaving the ambit of any exception, standards for evaluation, and the character of assessing discretion unspecified.

    TMI Notes

    Back

    All TMI Notes

    Showing Results for :
    Reset Filters
      No Records Found

      TMI Notes

      Back

      All TMI Notes

      whatsappJoin Channel
      Showing Results for : Reset Filters

      Comparison of section 332 "Application for registration." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

      11 September, 2025

      Contents
      Acts
      Rules & Regulations
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Section 332 Application for registration

      Income-tax Act, 2025

      At a Glance

      Clause 332 of the Income Tax Bill, 2025 - (Old Version) "Application for registration" for registered non-profit organisations. It sets out who may apply, eligibility conditions, time-limits and procedural steps for grant, rejection or cancellation of registration. It matters to non-profit entities seeking tax-status benefits and to tax administration (Principal Commissioner/Commissioner). Effective dates or commencement details: Not stated in the document.

      Background & Scope

      Statutory hook: Clause 332, Part B (Special provisions for registered non-profit organisation), I-Registration. The provision prescribes which entities may apply for registration to claim benefits under the Part, the eligibility conditions, procedural timelines for application and decision, and consequences of delay. Definitions for terms used in the Clause (e.g., "charitable purposes" referencing section 2(23)) are limited to reference; the Clause relies on other statutory definitions. Any broader legislative context or explanatory notes: Not stated in the document.

      Statutory Provision Mode

      Text & Scope

      The Clause applies to specified categories of persons who may apply for registration to claim benefits as a "registered non-profit organisation": (a) public trusts; (b) societies registered under the Societies Registration Act, 1860 or any law in India; (c) companies registered u/s 8 of the Companies Act, 2013 or companies previously registered u/s 25 of the 1956 Act and deemed registered u/s 465(2)(g) of the Companies Act, 2013; (d) universities or other educational institutions affiliated or recognised by Government; (e) institutions financed wholly or partly by Government or a local authority; (f) persons listed in specified entries of Schedules III and VII; and (g) other persons notified by the Board.

      Eligibility ingredients (sub-section (2)): (a) constitution/registration/incorporation in India for carrying out one or more charitable purposes as referred to in section 2(23) or one or more public religious purposes, or both; and (b) properties held under an irrevocable trust for the benefit of the general public - either wholly for charitable or religious purposes, or partly for such purposes in India if constituted prior to commencement of the Income-tax Act, 1961.

      Interpretation

      The Clause frames eligibility by reference to existing statutory definitions (section 2(23)) rather than redefining charitable or religious purposes, indicating reliance on established interpretive tests under the Act. The requirement that properties be "held under an irrevocable trust for the benefit of the general public" is a substantive condition: the trust character and public-benefit orientation are explicit statutory prerequisites. The decision-making role is vested in the Principal Commissioner or Commissioner, who must make enquiries and call for documents to assess "genuineness of activities" and compliance with other laws "material for the purpose of achieving its objects." Legislative intent beyond these textually expressed aims: Not stated in the document.

      Exceptions/Provisos

      The Clause contains temporal and conditional permutations in the Table (sub-section (3)) governing when applications must be made, and the period of validity if registration is granted. Notable exceptions/conditions: provisional registration is available where activities have not commenced (Table Sl. No. 1). Sub-section (4) permits condonation of delay by the Principal Commissioner/Commissioner for reasonable cause. Sub-section (5) substitutes a longer validity (ten years instead of five) for certain lower-income applicants (income not exceeding Rs. 5 crore in each of two preceding tax years). Liability for tax on accreted income u/s 352 applies where certain late applications are not condoned (sub-section (6)). Specific provisos limiting scope of object modifications (see Table Sl. No. 7) are not present in the Old Version beyond the requirement to notify within 30 days; further nuance: Not stated in the document.

      Illustrations

      • Newly formed society formed in April seeking registration for tax year starting 1 April: it may apply "at any time during the tax year beginning from which registration is sought"; where activities have not commenced and provisional registration is sought, the Commissioner must decide within three months from end of month of application (Table Sl. No.1).
      • An established trust whose activities have commenced and which has never been registered may apply during the relevant tax year; the Commissioner has six months from end of the quarter in which application is made to pass order; registration, if granted, is valid for five tax years (Table Sl. No.2).
      • A registered non-profit that adopts a modification of objects must notify within 30 days of adoption; the Commissioner may, after enquiring, reject and cancel registration in such cases if not satisfied (Table Sl. No.7; sub-section (7)).

      Interplay

      The Clause expressly references section 2(23) (definition of charitable purposes), u/s 465(2)(g) of the Companies Act, 2013, and section 352 (tax on accreted income) - indicating interplay with substantive definitions and penalty provisions elsewhere. It also refers to "requirements of any other law as are material for the purpose of achieving its objects," signalling cross-compliance checks with other regulatory regimes. Specific cross-references to Rules, Notifications or Circulars beyond "as prescribed" for form and manner: Not stated in the document.

      Practical Implications

      • Compliance and risk areas: Applicants must ensure constitutional documents and asset-holding arrangements evidence an irrevocable trust for public benefit; timely filing is crucial because delays can attract liability u/s 352 if not condoned. Entities altering objects must be alert to the 30-day notification requirement and risk cancellation if changes do not conform to registration conditions.
      • Record-keeping/evidence: The Commissioner is empowered to call for documents and enquiries into genuineness and compliance; applicants should retain foundational documents (trust deed, registration/incorporation records, objects clause, proof of irrevocability of asset holding), evidence of activities, financial statements (income thresholds are relevant for extended validity), and records of communications with funding authorities if government-funded.

      Key Takeaways

      • Clause 332 prescribes categories of entities eligible to seek registration as non-profit organisations and ties benefits to structural and trust-based conditions.
      • Eligibility requires both charitable/religious objective(s) (per section 2(23)) and assets held under an irrevocable trust for public benefit; temporal limitations apply where assets are only partly for such purposes.
      • The statutory Table creates differentiated filing windows, decision timelines and validity periods depending on commencement of activities and prior registration status; provisional registration and renewal mechanics are provided.
      • Condonation of delayed filings is discretionary and taxable consequences (section 352) follow uncured delay for certain categories.
      • The Principal Commissioner/Commissioner has broad fact-finding powers and may reject or cancel registration following a hearing if not satisfied about genuineness or legal compliance.
      • Lower-income applicants (<= Rs. 5 crore in each of two preceding years) may receive extended registration validity (ten years) in specified situations.
      • Form and manner of orders and applications are to be prescribed; specific rules or forms are not contained in the Clause itself.

      Differences between Section 332 of the Income-tax Act, 2025 and Clause 332 of the Income Tax Bill, 2025 - Old Version

      • Sub-section (2)(a): Clause 332 (Old) expressly includes "or both" after charitable and public religious purposes; Section 332 (Act) omits "or both" (it states "for carrying out one or more charitable purposes ... or one or more public religious purposes").
        • Practical impact: potential interpretive clarity in the Bill (Old) that combined charitable and religious purposes qualify; the Act's omission may invite question but likely not change substantive eligibility where both purposes are present-however the omission reduces textual explicitness.
      • Sub-section (3) procedural reference: The Bill (Old) requires following sub-sections (6) and (7); the Act requires following "the procedure provided in this section."
        • Practical impact: the Act's language is broader and may encompass additional subsections (e.g., 4,5) explicitly; the Old Bill's cross-reference is narrower but functionally the procedure invoked appears to align with the same subsections involved in decision-making.
      • Table - Sl. No.1 decision timeline: Clause 332 (Old) sets time-limit for passing order as "Three months from the end of the month in which application is made"; Section 332 (Act) reduces this to "One month from the end of the month in which application is made."
        • Practical impact: the Act imposes a shorter decision timeline for provisional registration where activities have not commenced, increasing administrative speed and pressure on the tax authority; applicants benefit from quicker certainty.
      • Table - Sl. No.7 scope: Clause 332 (Old) applies to an applicant "being a registered non-profit organisation, has adopted or undertaken modification of its objects." The Act narrows this trigger to modifications "which do not conform to the conditions of registration."
        • Practical impact: the Act narrows the category subject to immediate application requirement to object changes that are non-conforming, reducing compliance burden/risk of cancellation for any object modification that remains within registration conditions.
      • Substantive sequencing in sub-section (7): The Old Bill frames the enquiry "as to the compliance of such requirements of any other law ... and the genuineness of activities" while the Act frames enquiries to satisfy about "genuineness of activities, and the compliance of such requirements ... as are material."
        • Practical impact: largely stylistic, but the Act emphasises genuineness first and limits the scope of other-law compliance to requirements material to achieving objects - potentially narrowing the inquiry's scope.
      • Form of orders: Clause 332 (Old) uses "as prescribed"; Section 332 (Act) uses "as may be prescribed."
        • Practical impact: nominal; no substantive change evident.

      Action Points

      • Entities planning to seek registration should verify that their objects fall within section 2(23) and/or public religious purposes, ensure assets are held under an irrevocable trust for public benefit, and prepare documentary evidence in advance.
      • Registered organisations contemplating modification of objects should assess whether changes "conform to the conditions of registration" (per the Act) to determine the 30-day filing obligation and risk of cancellation.
      • Smaller organisations (income <= Rs. 5 crore in each of the two preceding years) should document income history to avail potential ten-year validity in designated cases.
      • Monitor the prescribed forms and order formats when notified, and be prepared for enquiries from the Principal Commissioner/Commissioner.

      Full Text:

      Section 332 Application for registration

      Topics

      ActsIncome Tax