Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

Re-registration deadline of trusts extended

The CBDT extended the deadline for re-registration of charitable and religious trusts to October 1 owing to the pandemic. The move comes after the apex body and the finance ministry received several representations expressing concerns over the implementation of the new procedure for re-registration effective from June 1. The Finance Act 2020 rationalised the procedures with respect to the approval, registration and intimation of certain such entities effective from June 1.

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