The
department sought comments from stakeholders by November 12 on the
amended rules and application forms seeking tax exemptions by such
entities.
NEW DELHI:
Educational institutions, hospitals, charitable and religious trusts
will soon have to file
the online application for seeking
income tax exemption, the I-T department said Monday.
The department sought comments from stakeholders by November 12 on the amended rules and application forms seeking
tax exemptions by such entities.
"In view of the digital advancement that the government in general, and the
income tax
department in particular, have made, it is imperative that manual
filing of these applications should be done away with so, as to ensure
not only faster processing of the same but also to reduce interface
between the department and the applicant," the
Central Board of Direct Taxes (CBDT) said in a statement.
The application for exemption should be accompanied by self
certified copy of registration with the registrar of companies or
registrar of firms and societies or registrar of public trusts as the
case may be, along with the copies of accounts and balance sheet.