The Finance Bill, 2017, proposed to amend section 12A of the Income Tax Act to state that where a trust/institution registered under section 12AA or section 12A and, subsequently adopts or undertakes modifications in its objects which do not conform to the conditions of registration, the trust/ institution shall be required to obtain fresh registration.
The application for fresh registration has to be made in the prescribed manner within 30 days of adoption or modification of its objects.
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