CBDT extends the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 for trusts, institutions & funds upto 30th June, 2024.
Circular No. 7/2024 dated 25/04/2024 issued.
Through this, further opportunity has been provided to trusts, institutions & funds to file Form 10A/10AB for AY 2022-23 in case they had failed to file or whose applications had been rejected on grounds of late filing.
This has been done with a view to avoid genuine hardships being faced by taxpayers.
Circular
Form 10A:
What is Form 10A?
Form 10A is a single application form introduced in 2020 to simplify the registration process for trusts and institutions seeking tax exemptions under various sections of the ITA. It replaces the earlier Forms 10 and 10G.
Who can apply using Form 10A?
- Charitable Trusts
- Religious Institutions
- Welfare Societies
- NGOs (Non-Governmental Organizations)
- Universities
- Educational Institutions
- Hospitals
What are the benefits of filing Form 10A?
- Registration under Section 12A, 12AA, 10(23C), or 80G of the ITA
- Claim tax exemptions on income earned (Section 12A, 10(23C))
- Allow donors to claim tax deductions for their contributions (Section 80G)
Changes introduced with Form 10A:
- Streamlined registration process: One form for multiple sections.
- Provisional registration for new trusts: Valid for 3 years.
- Relaxed document submission: Annual accounts not mandatory for immediate submission.
How to file Form 10A online:
- Visit the Income Tax Department portal: https://www.incometax.gov.in/iec/foportal/
- Go to “e-File” > “Income Tax Forms” > “File Income Tax Forms”.
- Select “Persons not dependent on any source of income”.
- Under “Tax Exemption and Relief”, choose Form 10A.
- Click “File Now” and fill in the required details.
- Attach necessary documents and digitally sign the form.
Documents required along with Form 10A:
- Self-certified copies of Memorandum of Association (MoA) or Trust Deed (2 copies)
- Certificate of Registration
- Documents of any post-registration changes
- Existing registration certificates (if any) under Section 12A, 10(23C), or 80G
- Previous rejection orders (if any) related to these sections
- Foreign Contribution (Regulation) Act (FCRA) certificate (if applicable)
- Proof of annual accounts for the past 3 years (or since incorporation)
Information required for Form 10A:
- Organization name
- Trust type (religious or charitable)
- Managing trustee contact details
- Trust PAN and Aadhaar numbers
- Activities undertaken by the trust
- Goals of the trust/NGO/institutio
All About Form 10AB for Trust Registration in India
The Income Tax Act has undergone changes regarding trust registration. This article explains Form 10AB, which is crucial for trusts seeking re-registration under new provisions.
Key Points
- Re-registration Requirement: The Finance Act 2020 mandates re-registration for all existing trusts under Sections 12A, 80G, 10(23C), and 35(1).
- New Section 12AB: Introduced in April 2020, Section 12AB governs the re-registration process for claiming tax exemptions under Sections 11 and 12.
- Form 10A vs. Form 10AB:
- Form 10A: Used for initial registration or provisional registration under the mentioned sections.
- Form 10AB: Used for applying for permanent registration after provisional registration or renewal of existing registrations under Section 12AB.
Benefits of New Provision:
- Provisional Enrollment: Trusts get a provisional 3-year enrollment without immediate activity verification.
Who Needs to File Form 10AB?
- Existing trusts registered under the old regime (before April 1, 2021).
- New trusts with provisional registration under Section 12AB.
- Trusts seeking renewal of registration under Section 12AB.
Time Limits for Filing Form 10AB:
- Provisional Registration: Apply within 6 months of starting activities or before expiry of the 3-year provisional period.
- Permanent Registration: Apply within 6 months before the expiry of the 5-year validity of the existing registration.
How to File Form 10AB:
- Visit the Income Tax Department e-filing portal: https://www.incometax.gov.in/iec/foportal/
- Go to “e-File” > “Income Tax Forms” > “File Income Tax Forms”.
- Select “Persons not dependent on any source of income”.
- Under “Tax Exemption and Relief”, choose Form 10AB.
- Fill in the details, attach documents, and digitally sign the form.
Documents Required:
Similar to those required for Form 10A
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