Section 12AB

New Income Tax Portal- Untimely Updations – Could Be Avoided

Income Tax - Our Government is trying to make income tax portal user friendly but untimely changes brought on the portal has made the professionals’ work more difficult as the portal is still not functional completely. Updations and changes are always welcome and appreciable by the users, if it is timely. When change is in our hands and […]...

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Anomaly in Re-Registration of Existing Trusts or Institutions U/S 12AB

Income Tax - In no case such existing registered trusts or institutions which have applied for re-registration by filling Form 10A under section 12A(1)(ac)(i) should be treated as trusts or institutions falling under 12A(1)(ac)(vi)....

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Registration of NGOs under Section 12AB of the Income Tax

Income Tax - NGOs in India can function in the form of constitutions like, trust, society or a Not for Profit company etc.,. For the purpose of claiming exemption under section 11 & 12 of the Income Tax Act, 1961 (the Act) it is mandatory for all the NGOs to register themselves under section 12 A of the Act....

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FAQs on New NGO Registration Process

Income Tax - Q. Whether all NGO (Trust/Society/Section 8 Company) are required to file application for Registration under new rules? Ans. Yes, All NGO already registered under section 80G,12A,12AA or 10(23c) or section 35(1) are required to file fresh application for registration under the specified form and manner. Q. What type of form available for ...

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Extending dates for filing belated & Revised IT Returns for AY 2020-21

Income Tax - Direct Taxes Professionals’ Association has made a representation to Hon’ble Finance Minister, Mrs. Nirmala Sitharaman, and requested for extending dates for filing belated and Revised IT Returns for AY 2020-21 and for furnishing Form 10A for fresh Registration under section 12AB and exemption under section 80G of the Income Tax Act, ...

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Request for extension of time limit for Re-registration u/s 12AB for Charitable Trusts/NGOs

Income Tax - BJP professional cell has requested FM Smt. Nirmala Sitharaman Madam through its president CA Shailesh R. Ghedia  for extension of time limit for Re-registration under section 12AB of Income Tax Act, 1961 for Charitable Trusts/NGOs. Text of their representation is as follows:- BJP Professional Cell Date :- 05.06.2021 To Smt. Nirmala Sith...

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Improper drastic changes in Income tax provisions relating to Trusts/NGOs

Income Tax - CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala Sitharaman and brought to her attention improper Drastic changes made in Income tax provisions relating to Charitable and Religious Trusts (Trusts/NGOs. He highlighted provisions relating to putting severe restr...

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Section 12A: Cancellation of trust registration with retrospective effect is invalid

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) - Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) We are of the opinion that in the present case the ld. Pr. CIT(C) has found or made allegation or objection of diversion or mis appropriations of funds and not filling the Audit report and ITR, if any only in A.Y. 2014-15 to 2016-17 & no...

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CBDT notifies New Income Tax Rules & Forms for Trust & NPOs

Notification No. 19/2021-Income Tax/G.S.R. 212(E). - (26/03/2021) - CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first p...

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Section 12AB’s Popular Posts

Recent Posts in "Section 12AB"

New Income Tax Portal- Untimely Updations – Could Be Avoided

Our Government is trying to make income tax portal user friendly but untimely changes brought on the portal has made the professionals’ work more difficult as the portal is still not functional completely. Updations and changes are always welcome and appreciable by the users, if it is timely. When change is in our hands and […]...

Read More
Posted Under: Income Tax |

Anomaly in Re-Registration of Existing Trusts or Institutions U/S 12AB

In no case such existing registered trusts or institutions which have applied for re-registration by filling Form 10A under section 12A(1)(ac)(i) should be treated as trusts or institutions falling under 12A(1)(ac)(vi)....

Read More
Posted Under: Income Tax |

Request for extension of time limit for Re-registration u/s 12AB for Charitable Trusts/NGOs

BJP professional cell has requested FM Smt. Nirmala Sitharaman Madam through its president CA Shailesh R. Ghedia  for extension of time limit for Re-registration under section 12AB of Income Tax Act, 1961 for Charitable Trusts/NGOs. Text of their representation is as follows:- BJP Professional Cell Date :- 05.06.2021 To Smt. Nirmala Sith...

Read More
Posted Under: Income Tax |

Registration of NGOs under Section 12AB of the Income Tax

NGOs in India can function in the form of constitutions like, trust, society or a Not for Profit company etc.,. For the purpose of claiming exemption under section 11 & 12 of the Income Tax Act, 1961 (the Act) it is mandatory for all the NGOs to register themselves under section 12 A of the Act....

Read More
Posted Under: Income Tax |

FAQs on New NGO Registration Process

Q. Whether all NGO (Trust/Society/Section 8 Company) are required to file application for Registration under new rules? Ans. Yes, All NGO already registered under section 80G,12A,12AA or 10(23c) or section 35(1) are required to file fresh application for registration under the specified form and manner. Q. What type of form available for ...

Read More
Posted Under: Income Tax |

Extending dates for filing belated & Revised IT Returns for AY 2020-21

Direct Taxes Professionals’ Association has made a representation to Hon’ble Finance Minister, Mrs. Nirmala Sitharaman, and requested for extending dates for filing belated and Revised IT Returns for AY 2020-21 and for furnishing Form 10A for fresh Registration under section 12AB and exemption under section 80G of the Income Tax Act, ...

Read More
Posted Under: Income Tax |

Registration of Trust under Income Tax – Analysis of New Provisions

Finance Act, 2020 introduced various amendment related to the registration of Charitable trust and Religious trust for availing the exemption u/s 11 and 12 of the Income Tax Act, 1961 (Act). Thereby, the legislature introduced section 12AB in the Act and made erstwhile provision of registration (i.e. section 12AA) inoperative....

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Posted Under: Income Tax |

Section 12A: Cancellation of trust registration with retrospective effect is invalid

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur)

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) We are of the opinion that in the present case the ld. Pr. CIT(C) has found or made allegation or objection of diversion or mis appropriations of funds and not filling the Audit report and ITR, if any only in A.Y. 2014-15 to 2016-17 & not in […]...

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Form 10A for Section 12AB Registration causing hardship

Ongoing through the form 10A, it is noticed that various financial information have been required to be filled pertaining to different date and period which is causing hardship to submit the same at this pandemic period where almost all offices have remained  closed in month of April, 2021 and also continue to be closed at present....

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Posted Under: Income Tax |

Mandatory Re-Registration Under Section 12A and 80G of Income Tax Act by Existing NGO before 30.06.2021 -FAQ’s

Mandatory Re-Registration Under Section 12A and 80G of Income Tax Act by Existing NGO before 30.06.2021 -FAQ’s Dear friends, NGOs are an integral part of our Society. There are many NGOs in India like The Earth Saviours Foundation, The Akshaya Patra Foundation, Iskcon, etc which are providing food and shelter to the needy peoples. To [&...

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Posted Under: Income Tax |

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