We are happy to present the analysis of the Union Budget 2024 and its implications on the NPOs. The analysis will be presented through multiple volumes and this instant S&N deals with merging two parallel tax exemption regimes Sec 10(23C) and Sec 12A of the Income Tax Act. Over the past years, several amendments have been made that effectively eliminated the additional privileges previously enjoyed by organisations under Section 10(23C). As a result, both regimes now offer similar benefits, and the procedures and conditions have been largely aligned. Therefore, maintaining both regimes has become redundant. Therefore, the Finance (No. 2) Bill 2024 has marked the beginning of efforts to simplify the tax regime for charitable organisations. Among several amendments, the most significant change is merging the two parallel tax exemption regimes: Section 10(23C) and Section 12A. This change involves transitioning existing organisations approved under Section 10(23C) to the Section 12A regime. In the present issue of S & N, we have discussed the overview of current provisions of exemptions, process of shifting from first regime to second regime, and additional compliances due to transition, etc. For more details, please go through this issue of Standards and Norms.