Specified violations under section 12AB and fifteenth proviso to clause (23C) of section 10

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..... isions) Act, 2020 amended the provisions related to application for registration by amending the first and second proviso to clause (23C) of section 10 of the Act, and clause (ac) of sub-section (1) of section 12A of the Act. Now the new trusts are required to apply for the provisional registration/approval which is valid for a period of 3 years or till six months from the commencement of activiti .....

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..... is automated, registration has been granted by the CPC. At present the approval/registration and the provisional approval/registration of the trusts can be cancelled by the PCIT/CIT for certain specified violations. 6.2 In order to rationalise the provisions, it is proposed to, a) insert clause (g) in Explanation 2 to the fifteenth proviso of clause (23C) of section 10 of the Act to provide th .....

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