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Form 9A is an Income tax application form which is used for exercising the option under clause (2) of sub-section (1) of the Income Tax Act. By using this form, entities can claim an exemption on their accumulated income from the Income tax.
What are the fees for filing a Form 9A?
There are no fees for filing Form 9A, but it is advised that you should check the latest updates through the official Income Tax website to make sure that there are no extra charges or fees applicable for filing Form 9A.
When should the Form 9A be filled?
For submitting the Form 9A, you will need to attach some of the documents which are described below:
and any other documents which is prescribed by the authorities.
You should file your Form 9A before the due date of the Income tax return filing for the relevant assessment year. Try to file your Form 9A early to avoid late form submissions and penalties.
Form 9A should be filled before the due date of the Income tax return, which is 31 October, if the audit is necessary.
The 9A form can be filed by entities like trusts, funds, institutions, universities, or those who are exempted under section 10 (23C) 11, 12 of the Income Tax Act.
The main purpose of this is to exercise the option under clause (2) of the Income Tax Act of 1961. This will help the entities to claim their exempt income from the income tax.
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What are the consequences of filing Form 9A with incorrect information or not filing Form 9A?
Here are some of the consequences of not filing or entering incorrect mistakes in your Form 9A:
To avoid all these consequences, you should file your Form 9A and provide all the correct information to ensure the correct filing of your Form 9A and avoid any implication by the Income Tax Department.