FORM 10AB Condonation Request for Section 12A – Now Available!

 

📝 FORM 10AB Condonation Request for Section 12A – Now Available!

Are you a trust or NGO that missed applying for revalidation of registration under Section 12A? There’s good news! The condonation request for Form 10AB is now available for filing, thanks to a new provision introduced in the Finance Act (No. 2), 2024.

🔍 What is Form 10AB?

Form 10AB is the application form used for the revalidation or renewal of charitable trust/NGO registrations under Section 12A of the Income Tax Act, 1961. Revalidation became mandatory after amendments made by the Finance Act, 2020.

However, due to missed deadlines, many trusts lost their benefits. To address this, the Finance Act (No. 2), 2024, now allows filing condonation requests to regularize these lapses.

✅ Who Can Apply?

  • Trusts and NGOs that failed to file Form 10AB within the stipulated deadline.

  • Those seeking condonation under Section 12A to restore income tax exemptions.

📌 Key Highlights:

  • The condonation request must be filed through the e-filing portal of the Income Tax Department.

  • Only entities with valid reasons for the delay are likely to be considered.

  • Condonation is at the discretion of the Principal Commissioner or Commissioner of Income Tax.

⚠️ Why This Matters:

Failure to revalidate registration could lead to:

  • Loss of tax exemptions

  • Donations not qualifying for Section 80G benefits

  • Unwanted scrutiny and penalties

🛡️ Let Taxla Services Assist You

At Taxla Services, we offer expert guidance and end-to-end support for:

  • Drafting the condonation application

  • Uploading documents and filing Form 10AB

  • Liaising with the Income Tax Department for follow-ups

📞 Reach Out Now:

📱 Call: +91 9600076134
📍 Visit: 19, SBI Colony 3rd Street, Saligramam, Chennai – 600093
🌐 Website: www.taxlaservices.com
📧 Email: auditsiva2@gmail.com

#Form10AB #Section12A #CharitableTrusts #NGOCompliance #IncomeTaxExemption #FinanceAct2024 #CondonationRequest #TaxlaServices #ChennaiTaxExperts



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