🟥 CBDT Circular on Condonation of Delay for Filing Forms 9A/10/10B/10BB
Date: November 18, 2024
Category: CBDT Notification
The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2024 concerning the condonation of delay under Section 119(2)(b) of the Income-tax Act, 1961, for filing Forms 9A, 10, 10B, and 10BB for Assessment Year 2018-19 and subsequent years.
Key Highlights of the Circular
Delegation of Powers
- Delays up to 365 Days:
Applications for condonation of delay in filing forms will be handled by Principal Commissioners of Income Tax (Pr. CsIT) and Commissioners of Income Tax (CsIT).
- Delays Beyond 365 Days:
Applications will be addressed by Principal Chief Commissioners of Income Tax (Pr. CCsIT), Chief Commissioners of Income Tax (CCsIT), or Director Generals of Income Tax (DGsIT).
Conditions for Condonation
The authority must confirm that the delay was caused by reasonable circumstances and the case involves genuine hardship.
For Form 10, it should also be ensured that accumulated amounts have been invested/deposited as specified under Section 11(5) of the Act.
Time Limits for Applications
No application will be entertained if filed beyond three years from the end of the relevant assessment year.
Applications must adhere to the three-year limit if filed after the issuance of this circular.
Processing Timeline
Applications should be resolved within six months from the end of the month they are received by the competent authority.
Applicability
This delegation covers all pending applications as of the circular’s issuance date.
Action Points for Taxpayers
Review pending cases and ensure applications for condonation of delay are filed within the prescribed timelines.
For delays exceeding one year, approach the designated higher authorities (Pr. CCsIT/CCsIT).
Ensure compliance with Section 11(5) requirements for Form 10 submissions.
