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May 6, 2020

All Charitable and Religious Trust u/s 12A, 12AA & 80G has to register again Online in Income Tax from 1 June 2020

All Charitable and Religious Trust u/s 12A & 12AA has to register again Online in Income Tax from 1 June 2020

Income Tax Act, section 11 to allow entities holding registration under section 12A, Section 12AA, Section 10(23C) & Section 80G to avail exemption which are established or constituted under a Central or State Act or by a Central or State Government. The Charitable and Religious Trust are registered under section 12A or Section 12AA

The Finance Act 2020 has rationalise the process of registration of trusts, institutions, funds, university, hospital etc and approval in the case of association, university, college, institution or company etc should also be for a limited period

The Registration of all Trust will become inoperative from 1 June 2020, so all Entities and Institutes which are registered under section 10(23C), registration under section 12AA, and approved under section 80G, if the entity wishes to make it operative in the future, it will have to file an application to Income Tax Department Online. The Process will be soon Notified by the Income Tax Department. Unless they are not registered then they would not be entitled for deduction under all above clause. The Finance Act has inserted new Section 12AB

Why all Trust need to Register again in Income Tax Act?

The Finance Bill 2020, want to consolidate all Trust data to provide an electronic database. There are many Old Trust registered however have misplaced their registration number nor the Income Tax Department has
any records of the same.

What is the time line to apply for registration ?

The Online Registration will be open from from 1 June 2020 till 3 Months for all existing Trust to Re Register. Means till 31 Aug 2020. However due to lockdown the deadline is expected to extend

What is Validity of Registration will Continue till?

The Order for Registration shall be received within 3 months from the end of the month in which application is made which will be valid for 5 years

What all Information and explanation will be asked for Approval?

The Officer can call for such documents or information or make such inquiries as the Officer thinks necessary in order to satisfy himself about, the genuineness of activities of the entity and the compliance of such requirements of any other law for the time being in force as which
are material for the purpose of achieving its objects.

Is the online forms available now?

The Online forms will be notified soon

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