CBDT has standardized the application process for income tax ...

Non-Company Public Entities Must Follow New Standardized Process for Tax Exemption Under Section 10(46A)

February 10, 2025

Circulars Income Tax

CBDT has standardized the application process for income tax exemption under section 10(46A) of Income Tax Act, 1961. Non-company entities established under Central/State Acts for housing, urban development, or public benefit regulation must file applications with jurisdictional Pr. CIT/CIT/Pr. DIT/DIT. Applications require submission in prescribed format (Annexure A) to Under Secretary (ITA-I), CBDT with acknowledgment from jurisdictional authority. The checklist mandates comprehensive details including legal status, statutory basis, nature of activities, existing tax approvals/registrations, and three years' financial records. This streamlines exemption requests for qualifying bodies while ensuring proper documentation and jurisdictional oversight.

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CBDT has standardized the application process for income tax ...

Non-Company Public Entities Must Follow New Standardized Process for Tax Exemption Under Section 10(46A)

February 10, 2025

Circulars Income Tax

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