CBDT Standardizes Process for Approval of Electoral Trust under Sec 2(22AAA) w.r.t. Donations

CBDT Standardizes Process for Approval of Electoral Trust under Sec 2(22AAA) w.r.t. Donations The Central Board of Direct Taxes(CBDT) issued Check List Vide F. No. 173/62/2022-ITA-1 dated 11th July 2022 Standardizes Process for Approval of Electoral Trust under Sec 2(22AAA) of the Income-tax Act, 1961 w.r.t. Donations. The Notification is Given Below: Under clause (22AAA) of Section 2 of the Income-tax Act, 1961 Central Board of Direct Taxes is empowered to approve an 'Electoral Trust' for the benefit of provisions of Section 13B of the Income-tax Act, 1961. 2. As per clause 5(1)(a) of the Electoral Trust Scheme, 2013, an application for approval under Section 2(22AAA) of the Act is to be made in duplicate in Form A. In order to avoid procedural delay in processing these applications, the applicants are advised to file alongwith the application in Form A, on or before the prescribed date, the duly filled in and signed check-list accompanied with documents required therein, before the Commissioner of Income Tax/Director of Income Tax under whose jurisdiction their cases fall. The applicant shall also enclose a copy the said check-list while sending the copy of their application to Member(IT&R}, CBDT in terms of clause 5(1)(b) of Electoral Trust Scheme, 2013. To Read More Details Download PDF Given Below: