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Re-registration of already registered institution u/s 10(23C), 12A, 12AA, 35 and 80G deferred to 01.10.2020

Income tax Expert by Income tax Expert
May 9, 2020
in Income Tax News
7
Re-registration of already registered institution u/s 10(23C), 12A, 12AA, 35 and 80G deferred to 01.10.2020
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As we all know Budget, 2020 in order to increase it’s database in relation to trust and to check whether they are eligible under the relevant provision had inserted new provision for re-registration for all of them from 01.06.2020 and all of them had to submit an application for re-registration whether the trust is 70 years old or more within 3 months from 01.06.2020.

Any trust registered before 01.06.2020 will have to again apply for registration with the appropriate authorities.

It was also seen as great opportunity for the professionals as there were huge number of trust had their registration before 80 years or even more and now were not able to find the relevant documents or not filing proper returns and enjoying the benefit but now they will have to again adhere to the provision and now Income tax department shall issue 5 years registration to any trust and not perpetual registration.

The forms for such registration was still not released and now with the current situation CBDT has further extended it stating that “In view of the unprecedented economic crisis emanating due to the COVID-19 situation, CBDT has deferred the implementation of new procedure for approval/registration/notification of certain entities u/s 10(23C),12AA, 35 & 80G of IT Act,1961 to 1st October,2020.“

Thus, now the due date for new registration shall start from 01.10.2020.

To read the tweet CLICK HERE.

 

This article is just for information purpose and are personal views of the author. It is always advisable to hire a professional for practical execution. If you need assistance you can ask a question to our expert and get the answer within an hour or post a comment about your views on the post and also subscribe to our newsletter for latest weekly updates.

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Tags: due date of tax auditre-registration of trustregistration of trust
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Comments 7

  1. Pingback: REQUIREMENT FOR FRESH REGISTRATION OF TRUST UNDER SECTION 12AB HAS BEEN EXTENDED TILL 01.04.2021 – ca rajesh
  2. Pingback: New Form 10A released for registration/ re-registration of Trust u/s 12AB of the Income tax act from 01.04.2021 - Taxontips
  3. Pingback: New Form 10AB released for registration/ re-registration of Trust u/s 12AB of the Income tax act from 01.04.2021 - Taxontips
  4. Pingback: Requirement for Fresh registration of trust under section 12AB has been extended till 01.04.2021 – cadcjain.in
  5. Pingback: Requirement for Fresh registration of trust under section 12AB has been extended till 01.04.2021 - Taxontips
  6. Sunil shinde says:
    3 years ago

    Good afternoon sir i do not understand what it is pleasse explain

    Reply
    • ADMIN says:
      3 years ago

      In Budget 2020 it was announced that all the trust have to again register themselves under Income tax within 3 months from 01.06.2020. However now the same has been extended to 01.10.2020.
      If you need any assistance you can mail us and take a session with our expert.

      Reply

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