Top Stories CBDT issues Circular for Condonation of Delay in Filing Income Tax Forms 9A, 10, 10B, and 10BB [Read Circular] Provisions for condonation of delays in filing Forms 9A, 10, 10B, and 10BB for Assessment Year (AY) 2018-19 and subsequent years are given through the CBIC Circular By Manu Sharma – On November 18, 2024 9:43 pm – 2 mins read In a significant move aimed at easing compliance for taxpayers, the Central Board of Direct Taxes ( CBDT ) has issued Circular No. 6/2024, with provisions for condonation of delays in filing Forms 9A, 10, 10B, and 10BB for Assessment Year ( AY ) 2018-19 and subsequent years.
The circular supersedes all previous instructions on the matter and comes under the powers granted by Section 119(2)(b) of the Income-tax Act, 1961. Step by Step Guidance for Tax Audit & E-filing, Click Here Authority for Admitting Condonation Applications The CBDT has delegated the powers to admit and process condonation applications based on the length of the delay upto 365 Days to Pro Commissioners of Income Tax ( Pr. CsIT ) and Commissioners of Income Tax (CsIT) are authorised to handle cases where the delay in filing these forms is up to 365 days. And Delay Beyond 365 Days to Pr. Chief Commissioners of Income Tax ( Pr. CCsIT ), Chief Commissioners of Income Tax ( CCsIT ), and Director Generals of Income Tax ( DGsIT ) will address cases involving delays exceeding 365 days.
The competent authorities must ensure that the delay was caused by reasonable circumstances beyond the taxpayer’s control and involves genuine hardship to the applicant on merit. For Form 10, the amount accumulated or set apart is invested or deposited in approved modes as specified under Section 11(5) of the Income-tax Act. Time Limit Notably, the Three-Year Standard Time Limit applies wherein No application for condonation of delay will be entertained if filed beyond three years from the end of the relevant assessment year. The provisions of this circular also apply to applications already pending as of the date of issuance of this circular. The circular also mandates that condonation applications should be disposed of within six months from the end of the month in which they are received. Step by Step Guidance for Tax Audit & E-filing, Click Here Forms Covered The circular pertains to the following forms for trusts, charitable institutions, and specified taxpayers: Form 9A: For exercising the option to apply income to future years. Form 10: For accumulation or setting apart of income.
Form 10B: Audit report for charitable or religious trusts/institutions. Form 10BB: Audit report for institutions claiming exemption under certain sections. Applicability This delegation of powers and the outlined process applies to: All new applications filed on or after the date of the circular and pending applications as of the issuance of this circular. The CBIC circular provides relief to trusts and institutions by allowing reasonable flexibility in addressing filing delays. Trusts, charitable institutions, and taxpayers who have missed filing deadlines for the applicable assessment years are encouraged to utilise this opportunity and approach the relevant authorities for condonation, provided they meet the stipulated conditions. To Read the full text of the Circular