FRESH REGISTRATION REQUIRED FOR CHARITABLE INSTITUTION : LAST DATE EXTE...

Very Important update for
Charitable Trusts and Exempt Institution registered under section 80G, 12A or
section 12AA of IT Act  :

Union Budget 2020 proposed
significant changes in compliance and registration procedure of Religious or
Charitable Trusts/ Institutions etc. which are registered under section 12AA of
the Income Tax Act.

NEW - FRESH REGISTRATION
REQUIRED FOR CHARITABLE INSTITUTION : LAST DATE 
EXTENDED TO  31.12.2020

All Charitable trusts and
exempt institution which are already registered under section 80G, 12A or section
12AA of Income Tax

Act, 1961 will now be
required to obtain FRESH REGISTRATION by December 31, 2020.

Provisions of registration
under section 80G, 12AA or section 12A will be redundant from 31st December, 2020 and a new
section 12AB will

come into force with effect
from 01st January 2021.

All the existing registered
trusts under the erstwhile section 80G, 12A or section 12AA would have move to new provision
section 12AB.

new section 12AB Income Tax Act,
1961

 proposes to change the registration process by
prescribing the time frame for processing the application and validity of such
a registration certificate so granted under the new section 12AB.

An order granting
registration or approval shall be passed within 3 months of the application.
Such registration orapproval shall be valid for 5 years.

Similarly, charitable trusts
and exempt institutions which already have Section 80G certificate will now be required to reapply
for registration or approval by December 31, 2020.

 The registration shall be valid for 5 years.

FORM
10A for Registration of Charitable Trust under Income Tax Act 

Procedure:-

The application can be made
by filing form 10A online on the income tax site incometaxindiaefiling.gov.in

The form is available on the
income tax website under Income Tax Forms Section under e-file menu which is
visible after login on the website.

Following documents are
required from the client and annexed to while registration:-

1. Registration Certificate
and MOA / Trust Deed (two copies- self attested by the Managing Trustee)

2. NOC from the Landlord
where registered office is situated (if place is rented)

3. Copy of PAN card of
Trust.

4. Electricity Bill/ House
Tax/ Water Bill.

5. Evidence of welfare
activities carried out and progress report of the same since 3 years or since
inception.

6. Books of Accounts,
Balance Sheet, ITR (if any) since inception or last 3 years.

7. List of Donors with their
PAN and address.

8. List of Governing body or
members of the trust/ Institution in the following format

Sr. No.

Name

Address

Adhaar No.

PAN

Mobile No.

Email id

                                                 

9. Trust Deed for
verification of Original Registration Certificate and MOA.

10. Any other information / document
as may be asked by the Income Tax Department.