Amendment of section 12A
In section 12A of the Income-tax Act, in sub-section (1), in clause (ac) with effect from the 1st day of October, 2024,—
| (a) | in sub-clause (ii),— |
| (i) | after the words, figures and letters “under section 12AB”, the words, brackets, figures and letters “or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10″ shall be inserted; | |
| (ii) | after the words “the period of the said registration”, the words “or approval, as the case may be,” shall be inserted; |
| (b) | in sub-clause (iii),— |
| (i) | after the words, figures and letters “under section 12AB”, the words, brackets, figures and letters “or provisionally approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10″ shall be inserted; | |
| (ii) | after the words “period of the provisional registration”, the words “or provisional approval, as the case may be,” shall be inserted; |
| (c) | after sub-clause (vi), the following proviso shall be inserted, namely:— | |
| “Provided that where the application is filed beyond the time allowed in sub-clauses (i) to (vi), the Principal Commissioner or Commissioner may, if he considers that there is a reasonable cause for delay in filing the application, condone such delay and such application shall be deemed to have been filed within time;”. |