Form 10BD statement & Certificate of Donation:
As we are aware, section 80G of the income tax act,1961 provides for deduction on payment of donations. Until the last financial year there was no way to counter check the accuracy of the donations paid. The income tax department allowed deduction based on the claim made by the assessee or at the most based on the copy of the donation receipt presented by the assessee.
However, the CBDT through notification no. 19/2021 dt 26th March, 2021, has notified Form 10BD and Form 10BE to facilitate more transparency and accuracy on the reconciliation of deductions claimed by the assessee and donation received by the Charitable Organizations.
WHAT IS FORM 10BD?
Form 10BD is a statement of donations containing the details of donations received by the Charitable Organizations during the financial year.
Procedure and time limit for filing form 10BD
The form is required to be filed electronically by donation receiving organizations. The form shall be signed through a digital signature of a person authorized to sign the return of the income. Alternatively, it can be filed through Electronic Verification Code (EVC). The form is required to be filed once in a financial year. The last date for filing the form for financial year 2021-22 is 31st May, 2022.
Details for filing form 10BD
Every Charitable Organization is required to collect requisite details/ information from donors while receiving the donations and maintain the list of the same. The details/ information required for filing the form are as follows:
Name of the donor
PAN/ Aadhaar number/ Tax Identification Number of the Donor
Address of the donor
Nature of donation
Mode of receipt
Amount of donation
Section code under which the donation is received
Issuance of certificate of donation
Post filing of statement of donations in Form 10BD, the Charitable Organization is required to download and issue Certificate of Donation in Form 10BE. The certificate shall contain details of Charitable Organization like Name of the organization, PAN, Address, approval number u/s 80G & 35(1) along with details of donations and donor. For the financial year, 2021-22 Form 10BE is to be issued by 31st May 2022.
Procedure for correction of error in Certificate of Donation
In case of any inadvertent errors or mistakes in Form 10BE, the there are provisions to rectify the errors or mistakes by filing a correction form (filing form 10BD again with corrections).
Consequences of non-filing of Form 10BD
The reporting entity id mandated to comply with the filing of Form 10BD and failure to comply will attract a fee of Rs. 200/- per day of delay as per new inserted section 234G.
Apart from the fee for delay in furnishing statement of donation in Form 10BD, failure to file such statement will also attract penalty u/s 271K, which shall not be less than Rs. 10,000/- but may extend up to Rs. 1,00,000/-
With the introduction of Form 10BD, it is now crucial for the donor to not only obtain a donation receipt but also Certificate of Donation in Form 10BE in order to claim deduction.
Author Bio
FROM WHERE TO GENERATE Pre Acknowledgement Number FOR DONATIONS TO BE UPLOADED IN FORM 10BD
How and from where to download Form 10 BE
In section it is written that only trust mentioned in clause (viii) of sub section (5) of section 80 G are required to file form 10 BD and you are saying all organizations are required please clarify
Is Form 10BE available. Filed Form 10BD and got ARN. next to download Donor certificate 10BE is not available. Can you guide where to download
How to file NIL form if it is mandatory even if no donations are received?
We are running a CHILDCARE INSTITUTION MANY PEOPLE DONATE 1000/ , 2000/- by cash or By Neft Or by Google pay but they do not share their details they just give their names what should we do
Thats a common problem especially with payment apps like G Pay, PayTM etc.
As an NGO you can receive upto 5% of your total annual donations/income as anonymous donations (Upto maximum of Rs. 1,00,000/- whichever is higher)
Need ur help hw to fill the form. Need ur guideline or we have to contact CA for this.
Is there any threshold limit for donation reporting. Suppose a donor of Rs.3,000/- though paid by NEFT does not share with his PAN/ Address. What is the remedy for reporting such donation.
from where we have to file 10BD form. i could not locate from where it is to be filed
Can Form 10 BD be filed if the Trust has a provisional registration of 80G
need format for filing 10BD as we have got provisional certificate of 80G
JUST LET ME KNOW SIR FROM WHERE WILL I FILE THE 10BD FORM? IS IT DIRECTLY FROM THE INCOME TAX PORTAL OR IS IT FROM ANOTHER SITE?? AS THE LAST DATE IS ALSO APPROACHING.
Has the filing procedure notified for Form10BD?
This rule only 80 G Trust or also 12 A
and
also any limit or donation amount.
informative article thanks