very specified person shall, in addition to the income-tax chargeable in respect of his total income, be liable to pay additional income-tax on accreted income at the maximum marginal rate in any of the cases specified in column B(i) and (ii) of the Table in sub-section (4). (2) The accreted income referred to in sub-section (1) shall be computed using the following formula:–– A = B-C where,–– A = Accreted income; B = Aggregate fair market value of the total assets of the specified person, as on the date specified, in column C of the Table in sub-section (4), computed in accordance with such method of valuation, as may be prescribed; C = Total liability of such specified person, as on the date specified in column C of the said Table, computed in accordance with such method of valuation, as may be prescribed. (3) The accreted income, computed as per the provisions of sub-section (2) shall be reduced by such amount of accreted income as is attributable to specified assets, and liabilities, if any, related to such assets. (4) The specified person and the principal officer or trustee of such specified person shall be liable to pay the tax on accreted income to the credit of the Central Government within fourteen days from the due date specified in column D of the Table below.
Income–tax Act, 2025 [Sec 302-355] Table Sl. Case Specified date Due date for No. the payment of tax on accreted income A B C D (i) (ii) 1. The registration The specified The date of the Date of receipt granted to the person has order cancelling of the order in specified person preferred an the registration. any appeal, under any specified appeal against confirming the provision has been the order of cancellation of cancelled or cancellation. the registration, withdrawn. by the specified person. 2. The registration The specified The date of the The date on granted to the person has not order cancelling which the specified person preferred an the registration. period for filing under any specified appeal against appeal under provision has been such order of Section 362 cancelled or cancellation. against the withdrawn. order cancelling the registration expires. 3. (a) The The specified The date of The end of Specified person person has not adoption or such tax year. has adopted or applied for modification of undertaken fresh any object. modification of its registration objects during any under any tax year; and specified (b) such provision in modified objects such tax year. do not conform to the conditions of registration.
A B C D (i) (ii) 4. (a) The The specified The date of The date of specified person has person has adoption or receipt of the adopted or applied for modification of order in any undertaken fresh any object. appeal, modification of its registration confirming the objects during any under any cancellation of tax year; and specified the registration (b) such provision in by the specified modified objects such tax year person. do not conform to and where such the conditions of application has registration. been rejected and appeal has been preferred against such order of rejection. 5. (a) The specified The specified The date of The date on person has adopted person has adoption or which the or undertaken applied for modification of period for filing modification of its fresh any object. appeal under objects during any registration section 362 tax year; and under any against the specified order (b) Such provision in the cancelling the modified objects do said tax year registration not conform to the and where such expires. conditions of application has registration. been rejected and no appeal has been preferred against such order of rejection.
Income–tax Act, 2025 [Sec 302-355] A B C D (i) (ii) 6. The specified The period The last date The end of person fails to make specified in the for making an such tax year. an application as respective application for per the provisions clause or sub- registration. of–– clauses or Table, as the (a) sub-clause (i) case may be, or (ii) or (iii) of the expires in the first proviso to tax year in section 10 (23C) of which the said the Income-tax Act, application is 1961 (43 of 1961); or to be made. (b) sub-clause (i) or (ii) or (iii) of section 12(1) (ac) of the Income-tax Act, 1961 (43 of 1961); or (c) as specified in section 332(3) (Table: Sl. No. 3, 4, 5 or 7). 7. Where a specified The date of such The end of person converts conversion. such tax year. itself into a form which is not eligible for grant of registration during any tax year. 8. The specified The date of The date of person has merged merger. merger. with any other entity other than a registered non- profit organisation having the same or
A B C D (i) (ii) similar objects and the said merger does not fulfil such conditions, as may be prescribed. 9. The specified The date of The date on person has failed to dissolution. which such transfer upon period of dissolution, all its twelve months assets to any other expires.