9911796707
TMI BlogAmendment of section 80G.X X X X Extracts X X X X X X X X Extracts X X X X ..... g with the words and where no income or part and ending with the words such application, shall be omitted; (II) in the second proviso, in clause (ii), in sub-clause (b), for item (B), the following item shall be substituted, namely: (B) if he is not so satisfied, pass an order in writing, rejecting such application and cancelling its approval, if any, after affording it a reasonable opportunity of being heard; ; (III) for the third proviso, the following proviso shall be substituted, namely: Provided also that the order under clause (i) and clause (iii) of the second proviso shall be passed in such form and manner as may be prescribed, before expiry of the period of three months and one month, as the case may be, calculated from the end of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstitution or fund referred to in clause (vi) shall make an application in the prescribed form and manner to the Principal Commissioner or Commissioner, for grant of approval. It is further proposed to amend the first proviso to sub-section (5) of the said section so as to insert or between the clause (iii) and (iv) of the said first proviso and to amend clause (iv) of first proviso thereof to provide that, where activities of the institution or fund have not commenced, at least one month prior to the commencement of the previous year relevant to the assessment year from which the said approval is sought; or commenced, at any time after the commencement of such activities shall make an application for grant of approval. Item (B) of sub-clau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd proviso to the said sub-section (5) shall be passed in such form and manner as may be provided by rules, before expiry of the period of six months, calculated from the end of the month in which the application was received. It is also proposed to insert a proviso after the third proviso to sub-section (5) of the said section to provide that the order under sub-clause (b) of clause (ii) of the second proviso shall be passed in such form and manner as may be provided by rules, before expiry of the period of six months from the end of the quarter in which the application was received. These amendments will take effect from 1st October, 2024. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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