The regional commissioners of income tax (RCITs) have been empowered to register non-profit organisations (NPOs), institution/ funds/ trusts/societies for giving income tax exemption after necessary documentation.
The board has amended the Income Tax Rules 2002 through an SRO.880(I)/2006 issued on Thursday. The board on July 28 circulated the draft amendment to obtain stakeholders comments and their viable suggestions have been incorporated in the new law.
Under revised rules, NPOs/NGOs would be required to submit application to the RCIT concerned instead of the board. In this regard, necessary changes in the relevant form have also been proposed. On receipt of an application, the RCIT concerned would complete necessary registration formalities.
The approval shall not be granted to an organisation if the RCIT feels that any of the laid down conditions has not been met.
Non-profit organisations would now not be required to submit their applications to the CBR secretary under new rules.
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