CBDT invites inputs from stakeholders and general public on proposed amendment of Form 10B

May 22, 2019 | by Avantis RegTech Legal Research Team


The Central Board of Direct taxes (CBDT) on May 21, 2019, has proposed the amendments in Rule 17B and Form 10B of the Income-tax Rules, 1962, to rationalise them to align with the requirements of the present times.  

Whereas, Rule 17B specifies the requirement to furnished the report of audit of the accounts of trust or institution and Form 10B is related to the furnishing of audit report as per Section 12A(1)(b) of the Income tax Act, 1961, which specifies that where the total income of the trust or institution computed without giving effect to section 11 which specifies the income from property held for charitable or religious purposes and 12 which specifies the income of trusts or institutions from contributions exceeds the maximum amount not chargeable to income-tax in any previous year, its accounts for that year have been audited by an accountant as defined in the Explanation of section 288(2) which specifies the Appearance of authorised representative.

Therefore, the rule and form are proposed to be amended by way of substituting:

(a)Rule 17B with a new rule 17B; and

(b)Form No 10B with a new Form No 10B.

Therefore, it is requested from the stakeholders and general public to provide inputs electronically at on Draft Notification (Page2) on the email address, [email protected], by June 05, 2019.


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