INCOME TAX2 Sept 2026
Circular No. 1/2026: Form 10A Delay Condonation Clarified
Tax authorities have issued Circular No. 1/2026 clarifying the power to condone delays in filing Form 10A under Section 12A(1)(ac) of the Income-tax Act, 1961. This can affect taxpayers who may seek condonation for late filing. The circular outlines how this power operates. If you need to file Form 10A late, check whether the clarification applies to your circumstances.
Key Statutory Highlights
- Circular No. 1/2026 clarifies the power to condone delay in filing Form No. 10A.
- Form 10A is covered under sub-clause (i), clause (ac), sub-section (1) of Section 12A of the Income-tax Act, 1961.
- The circular provides clarification on the power to condone delays in such filings.
Actionable Advice for Taxpayers / Founders:If you need to file Form 10A after its prescribed time, review Circular No. 1/2026 and confirm whether the condonation power applies to your situation before taking action.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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