Section 8 - Amendment of section 12A. - Finance Act, 2023

Amendment of section 12A. 8. In section 12A of the Income-tax Act, (a) in sub-section (1), (I) in clause (ac), for sub-clause (vi), the following sub-clause shall be substituted with effect from the 1st day of October, 2023, namely: (vi) in any other case, where activities of the trust or institution have (A) not commenced, at least one month prior to the commencement of the previous year relevant to the assessment year from which the said registration is sought; (B) commenced and no income or part thereof of the said trust or institution has been excluded from the total income on account of applicability of sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, or section 11 or section 12, for any previous year ending on or before the date of such application, at any time after the commencement of such activities, ; (II) in clause (ba), for the words within the time allowed under that section , the words, brackets and figures within the time allowed under sub-section (1) or sub-section (4) of that section shall be substituted; (b) in sub-section (2), the second, third and fourth provisos shall be omitted.