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Religious, charitable trusts get more time to comply with new approval regime

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NEW DELHI : The Central Board of Direct Taxes (CBDT) on Friday deferred the new approval regime for religious and charitable trusts by four months from 1 June to 1 October, giving these entities more time for compliance.

The government had earlier brought in a new regime in the Finance Act of 2020 for all existing religious and charitable trusts.

It required these entities to apply for fresh registration within three months from 1 June. On Friday, CBDT extended its operation by four months to 1 October.

Accordingly, trusts have time till end of December to comply. The decision was taken in view of the unprecedented humanitarian and economic crisis caused by the Coronavirus pandemic and requests for extension, the CBDT said in a statement.

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