The Central Board of Direct Taxes ( CBDT ) has enabled the various Income Tax Forms such as forms 10AB, 10IG, 10IH and 5C in the Income Tax Portal.
The CBDT has said that, Facility to file forms 10AB, 10IG, 10IH and 5C has been enabled after login under e-file -> Income Tax Forms -> File Income Tax Forms.
Form 10AB supposed to be filed by all the Trust/ Institutions who got the provisional registration or approval for a period of 3 years will be required to make application in Form No. 10AB within 6 months after the commencement of the charitable activities. Such trusts will be getting permanent registration after making an application in Form NO. 10AB.
Form No. 10IG is a Statement of Exempt income under clause (4D) of section 10 of the Income Tax Act, 1961.
Form 5C is a recently notified form regarding details of the amount attributed to capital assets remaining with the specified entity. The amount or a part of it shall be deemed to be from the transfer of short term capital asset if it is attributed to, a capital asset which is a short term capital asset at the time of taxation of amount under sub-section (4) of section 45; or capital asset forming part of a block of asset, or capital asset being a self-generated asset and self-generated goodwill as defined in clause (ii) of Explanation 1 to sub-section (4) of section 45.
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