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CS Professional · Advanced Direct Tax Laws and Practice · Computation of Total Income, Tax Liability and Filing of Return of Companies

A registered trust modifies its objects in a tax year so that they do not conform to the conditions of registration, and it does not apply for fresh registration in that tax year. Under section 352(4) of the Income-tax Act, 2025, the tax on accreted income is payable within fourteen days from:

The payment is due within fourteen days from the end of the tax year in which the objects were modified. The modification date is only the specified date for valuing assets and liabilities, not the due date for payment.

  1. AThe end of that tax yearCorrect
  2. BThe date of adoption or modification of the object
  3. CThe date on which the assessment for that year is completed
  4. DThe due date for filing the return of income for that year

Explanation

For Sl. No. 3, the specified date is the date of adoption or modification of the objects, but the due date in column D is the end of the tax year. Payment must be made within fourteen days from that due date. The modification date is thus the specified date, not the due date.

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