CBDT condones delays in filing Form 9A/10/10B/10BB for the Assessment Year (A.Y.) 2018-19 and subsequent A.Y.
CBDT issues Circular No. 16/2024 on 18.11.2024, which authorizes income-tax authorities to accept applications for condonation of delay in filing Form 9A/10/10B/10BB for Assessment Year 2018-19 and subsequent A.Y. This circular supersedes all prior instructions/circulars/guidelines issued by CBDT in this context.
Key Highlights:
Delegation of Powers
- Pr. Commissioners and Commissioners of Income Tax (Pr. CsIT & CsIT) can now admit applications for delays of up to 365 days.
- Pr. Chief Commissioners, Chief Commissioners, and Director Generals of Income Tax (Pr. CCsIT, CCsIT, DGsIT) are authorized to deal with applications for delays beyond 365 days.
Eligibility Criteria
- Applications must show a reasonable cause for delay, and the applicant should demonstrate genuine hardship.
- For Form 10, authorities will also verify that the funds have been invested in specified modes under section 11(5) of the Act.
Timeline
- Applications will not be entertained beyond 3 years from the end of the relevant assessment year.
- The time limit for filing of such application within 3 years from the end of the assessment year will be applicable for application filed on or after the date of issue of this Circular.
- Applications should be disposed of, as far as possible, within 6 months from the end of the month in which such application received by the Competent Authority.
For details, please refer the following:
CBDT Circular No. 16/2024 dated 18.11.2024
https://incometaxindia.gov.in/communications/circular/circular-16-2024.pdf
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