CA Harshali Salvi
Quick Summary
The Finance Act, 2020 has made changes leading to a complete overhaul in the registration process of charitable and religious organizations. The procedure for registration of every organization under the new scheme shall be completely electronic under a centralized database. The Income-tax Depart
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FAQ :
The Finance Act, 2020 has introduced a complete overhaul to the registration process for charitable and religious organisations, moving to a fully electronic system with a centralised database and issuing a National Unique Registration Number.
The new procedure was originally intended to be effective from 1st June 2020 but was deferred and made effective from 1st April 2021 due to economic circumstances.
Form 10A is required for trusts/institutions already registered under the previous law (before 1st April 2021) or for those seeking fresh registration or approval under the new law.
For trusts and institutions already registered under the previous law, the time limit to file Form 10A is 3 months from 1st April 2021, making the deadline 30th June 2021.
Form 10AB should be filed by trusts/institutions registered or approved under the new law (effective from 1st April 2021) whose approval is expiring, or for those with provisional registration/approval whose period is due to expire or activities have commenced.
For expiring approvals, Form 10AB must be filed at least 6 months before expiry. For provisional registrations, it's either 6 months before expiry or within 6 months from the commencement of activities.
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