Trust to file notice electronically for accumulation of income from Ass Year 2014-15

Central board of Direct Taxes vide its NOTIFICATION NO.24/2014 [F.NO.142/2/2014-TPL]/SO 997(E), DATED 1-4-2014 has made it compulsory for all the the trusts to give notice for accumulation of income electronically where as per Section 11(2)(a) a trust accumulates its Income and do not want it to be included in the total income of the previous year then it have to specify, by notice in writing given to the Assessing Officer in the prescribed manner, the purpose for which the income is being accumulated or set apart and the period for which the income is to be accumulated or set apart, which shall in no case exceed ten years  by substituting sub rule (2) of In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 12,as under:

in sub-rule(2), in the proviso after the words and figures "section 115JB" the words "or to give a notice under clause (a) of sub-section (2) of section 11" shall be inserted;