Giving incomplete/false information can attract cancellation

from Taxmann's Budget Marathon | Charitable Trusts | Views by Dr Manoj Fogla & Suresh Kejriwal

No retrospective benefit of registration

Current Position:

 Cancellation proceedings can be initiated if the PCIT/CIT has noticed the occurrence of a specified violation, and the violation need not be noticed only upon assessment.

 If the registration has been obtained on incomplete or false or incorrect information, the CIT has a power to cancel the registration after giving an opportunity of being heard. [Rule 17A(6)]

Proposed Amendment [From 1st April 2023]:

 Explanation to Sec. 12AB(4) provides specified violation which results in cancellation

 Specified violation shall include the case where the application for approval or registration is incomplete or contains false or incorrect information.

Giving incomplete/false information can attract cancellation

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Taxmann's Budget Marathon | Charitable Trusts | Views by Dr Manoj Fogla & Suresh Kejriwal