Mandatory E-Filing of Form 10F – Needs Reconsideration
The Covid–19 third wave has shaken the world again and uprooted normalcy everywhere. Curfews, restrictions on movement and various other restrictive measures are being taken across many states to control this outbreak. Till now, the Governments have been extremely pro–active in taking various measures to control the outbreak of third wave and to help the economy deal with this situation. We sincerely appreciate the efforts by the Governments in this regard.
By the Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act 2020, all Charitable institutions are required to make applications for registration under section 12A(1)(ac) if they seek to claim an exemption under section 11, or in terms of the first proviso to sec 10(23C), if they seek to claim an exemption under section 10(23C)(iv), (v),(vi) or (via). These applications are required to be made by both newly formed Charitable institutions as well as those who were enjoying registration prior to the enactment referred to above.