To apply for 80G exemption

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This query is : Resolved

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A newly registered trust, established in April 2019 and engaged in social activities, is seeking to apply for 80G exemption to receive future donations. They were concerned about the requirement for three years of IT returns. However, recent amendments to the Income Tax Act allow trusts to apply for 80G exemption immediately. Provisional approval can be granted for three years, making it possible for younger trusts to benefit.

Gopalakrishnan. S

Gopalakrishnan. S (Querist)

09 June 2020 Sir,

A trust, which has been registered in April 2019 and involved in social activities likes to apply for
80G exemption with the Income tax department for the donations it may receive in future.

We came to know that, preceding 3 years' IT return is essential to apply for 80G exemption. Is
it true ? And if so, is there any other alternative for this trust, which is merely a year old, to apply for this exemption.

Kindly advice.

With Regards.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 June 2020 Not true, as per recent amendment apply now. Approval shall be granted provisionally for a period 3 years from the assessment year from which the registration is sought.

Gopalakrishnan. S

Gopalakrishnan. S (Querist)

10 June 2020 Sir, Thank you very much.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

10 June 2020 Welcome................

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