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Who is required to file Form 9A?
A trust registered under Section 12AB is required to apply at least 85% of its income for charitable/religious purposes every year. Even if a trust is not able to apply 85% of its income for charitable or religious purposes in India, such income shall be deemed to be applied if the trust furnishes Form 9A.
This form can be furnished in the following cases:
a) Where income has not been received in the previous year;
b) Where income could not be applied due to any other reasons.
How to file Form 9A?
Form 9A shall be furnished electronically either under a digital signature or electronic verification code through the e-filing portal.
What is the time limit to submit Form 9A?
Form 9A shall be furnished on or before the due date for furnishing of return of income of the relevant assessment year.
What are the consequences of not filing Form 9A?
If Form 9A for the corresponding financial year is not submitted within the due date prescribed under Section 139(1), the exemption with respect to the amount considered as the deemed application will not be available to the trust.