Income Tax exemption application: I-T department proposes online filing; Check details

Income Tax exemption application: Organisations will soon have to file the online application for seeking income tax exemption, the I-T department said Monday.

Income Tax exemption application: The department has sought comments from stakeholders by November 12 on the amended rules. (PTI)

Income Tax exemption application: Soon educational institutions, hospitals, charitable and religious trusts will be able to file the online application for seeking income tax exemption, the I-T department on Monday said. The department has sought comments from stakeholders by November 12 on the amended rules and application forms seeking tax exemptions by such entities. In the wake of digital advancement, the Central Board of Direct Taxes (CBDT) said in a statement that the government in general, and the income tax department in particular, have made, it is imperative that manual filing of these applications should be done away. This will not only ensure faster processing of filing the application, but also will reduce interface between the department and the applicant, CBDT said. The application for exemption should be accompanied by self certified copy of registration with the registrar of companies or registrar of firms and societies or registrar of public trusts as the case may be, along with the copies of accounts and balance sheet.