Submitted by Charitable or religious trust
Details provided in the form
Application furnished for exercise of option under clause (2) of explanation to Section 11(1) where application of income falls short of 85% due to non-receipt and needs to be applied during the previous year in which it is received. The form shall be furnished before the expiry of time allowed u/s 139(1) for furnishing the return of income of the relevant Assessment Year.
When should a form 9A be filed?
Form 9A may be filed in case of income earned but not received (accrued income) or if received late in the previous financial year. Both Form 9A and Form 10 must be furnished electronically either under digital signature or electronic verification code before 30th September of the assessment year.
When a form 9A amount is utilized?
In case of Form 9A amount utilized in:
(i) the amount has to be utilized in the FY in which it will be received or subsequent FY otheriwse, if the amount is not utilized within the time it will be taxable at the rate of 30% under section 115BBI.
(ii) in case where the same could not be applied for any other reason, say it was received in the last week of March and hence could not be applied, the amount has to be applied in the subsequent FY.
Click here to download the pdf format of Form 9A