Recently there have been talks with regards to a newly introduced annual compliance for Trusts via Form 10BD and Form 10BE. The due date for the same is 31st May of every year. The purpose of this article is to provide you with a brief idea and clarity about the same.
The Government had no effective mechanism to trace whether the claim of deduction u/s 80G made by the taxpayer (donor) was true and correct. In order to bring transparency to the system, the CBDT came out with a Notification no. 19/2021 dated 26th March 2021 prescribing a Form 10BD to be filed by specified institutions providing specific details of the donations made by the donors. After filing a statement of donations in Form 10 BD, the institution has to download the certificate in Form 10BE certificate of donation and provide the same to the donors. The first year of implementation of these forms will be with effect from FY 2021-22.
Rule 18AB has been notified to facilitate the implementation of such a mechanism. The gist of the rule is as under:
- statement of particulars required to be furnished by any research association, university, college or other institution or company or fund under:
- Clause (vii) of sub-section (5) of section 80G; or
- Under clause (i) to sub-section (1A) of section 35
- shall be furnished in respect of each financial year beginning with the financial year 2021-2022, on or before 31st May in the following year.
Specified institutions and funds covered under the compliance
Any research association, university, college or other institution or company or fund:
- under clause (viii) of sub-section (5) of section 80G;
- clause (i) to sub-section (1A) of section 35
Process for Filing:
- Login to the Income Tax E-filing Portal
- Go to E-file Income-tax Forms
- Any other sources information
- Tax Exemptions and Reliefs (Form 10BD)
- Select Financial Year
- Form is divided into 3 parts:
a. Basic information
b. Details of donations
c. Verification
File the part B details by downloading a template, in each template maximum of 25,000 rows can be added. Form 10BD can be filed multiple times. Once, the data is inserted into CSV file, upload the same in the portal. The preview of the form can be viewed and can be verified online. Once this is done, the submission is complete.
Contents required to file form 10BD
- Statement Number
- Pre Acknowledgement number
- Donor’s ID
- Unique Identification Number (PAN/ Aadhar card/ Passport/ Driving License)
- Section code – 80G, 35(1)(ii), 35(1)(iia), 35(1)(iii)
- Unique Registration Number and date of issue
- Name of Donor
- Address of Donor
- Donation type (Corpus, Specific, Restricted Grant/ Others)
- Mode of receipt
- Amount
Following are the points one needs to be mindful off –
Pre acknowledgment number – To be left blank in case of the original filing, the same will be generated once Form 10BD is filed. However, while filing the revised Form 10BD the same pre acknowledgment number should be mentioned.
Unique Registration number – URN mentioned at the Sr. No. 5 of Form 10AC
Late fees – Once the form 10BD is filed, a certificate will be available in the Income-tax portal which is to be furnished to the donor on or before 31st May immediately following the financial year in which the donation is received. A late fee of Rs. 200 per day will be levied u/s 234G of the Income-tax Act 1961 in case of delay in filing form 10BD. However, the late shall not exceed the donation amount in respect of which delay has occurred in filing form 10BD.
Introduction of new compliance via Form 10BD/ Form 10BE is a crucial step as details of the donations will now be readily available in Form No. 26AS and in compliance portal, thus it will bring more transparency.
Author Bio
one of the donors have given CSR donations for two different projects on different dates during the financial year 2022-23. We had applied for one receipts for both the donations and downloaded form 10BE. Now they want separate receipts for both the projects. Is it possible to apply again for separate receipts? Are we supposed to pay late fees/ penalty if applied again? please guide at earliest please and oblige. Thanks
whether political party is required to file form 10BD
if we as a trust have received government grants from ministry of culture
how do we find pan number for ministry of culture who is the donor in this case
sir, whether it’s mandatory to file FORM 10BE to claim exemption under income tax. if only Receipt with 80G Available, can we claim exemption under I.T. ?
i selected the wrong financial year can I revoke my application form 10BD?
I had the same problem. Could you amend the FY ? Or did you have to file it again for the correct FY, and delete the entries in the incorrect FY form ?
Whether the political party is required to file Form 10BD under Income Tax Act.
We gave donation of Rs.10,000/- but from Donee we received wrong receipt in the name of another person and address but PAN no is ours. Later we got the receipt changed but they are saying Form 10 BE cannot be altered. Kindly advise in this issue.
Thank your
Can we add donors by revising form 10BD?
KOI BHI NO NAHI HAI NA PAN CARD NA AADHAR CARD NA ANY OTHER ID NO TO LIST KIASE UPLOD HOGI
I had already filed Form 10Bd, now I want to add 1 more record and to change one record for change in name. Please explain the procedure
I had already filed Form 10Bd, now I want to add 1 more record . Please explain the procedure
PAN or Aadhar is not available of the donor, one of the following identification numbers of the documents mentioned below can be furnished viz
Passport number
Driving license number,
Electors photo identity number
Ration card number.
If PAN or Aadhar is not available of the donor, one of the following identification numbers of the documents mentioned below can be furnished viz
Passport number
Driving license number,
Electors photo identity number
Ration card number.
Donation received by trust registered u/s 80G but donor does not want to claim benefit of exemption / deduction of income -yet 10BD to be flled ?
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