The CBDT vide Notification No. 19/2021, dated 26-3-2021 has issued the ‘Income-tax (6th Amendment) Rules, 2021’ to further amend the Income Tax Rules, 1962.
The amendment inter alia has introduced forms for a new scheme for trusts which comes into effect from 1st April 2021, which is a completely new system of online registration. Even old trusts have to apply afresh. The amendments are briefed as under:
- Rule 2C relating to Application for the purpose of grant of approval of a fund or trust or institution or university or any hospital or other medical institution under clause (i) or clause (ii) or clause (iii) or clause (iv) of first proviso to clause (23C) of Section 10 has been substituted. Further, new Form No. 10A & Form No. 10AB, manner of furnishing and documents required with regard to same has been introduced. Further new form 10AC towards order for registration / provisional registration or approval or provisional approval and Form 10AD towards order for registration/ approval / rejection / cancellation.
- Form No. 3CF-I/II and Form No. 3CF-III has been substituted by ‘Form No. 3CF’ under Rules 5C , 5D, 5E and 5F respectively of the Income-Tax Rules, 1962 and manner of furnishing the same has been introduced with regard to deductions of expenditure on scientific research.
- Rule 2C of the Income Tax Rules,1962 has been substituted with regard to application for the purpose of grant of approval of a fund or trust or institution or university or any hospital or other medical institution specified therein.
- New Rule 5CA has been inserted in the Income-Tax Rules, 2017 with regard to intimation by way of application for the purpose of grant of approval, or continuance of deductions on expenditure on scientific research.
- Rule 11AA of the Income-Tax Rules with regard to requirement for approval of institution of fund in relation to donations made after March 31, 1992 has been substituted.
- Rule 17A of the Income-Tax Rules with regard to application for registration of charitable or religious trusts etc. has been substituted. Further, manner of furnishing the application in Form 10A and 10AB and documents required with regard to same has been introduced.
- New Rule 18AB has been inserted under the Income-Tax Rules for furnishing of statement of particulars and certificate by the institution or fund specified therein. Further, a new Form No. 10BD i.e. Statement of particulars to be filed by reporting person under section 80G(5)(viii) and section 35(1A)(i) of the Income-tax Act, 1961, and manner of furnishing with the same has been introduced. Also Form No. 10BE i.e. Certificate of donation under section 80G(5)(ix) and under section 35(1A)(ii) of the Income-tax Act, 1961 has been introduced.
The Notification will come into force on 1st April, 2021.
The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2021/226170.pdf
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