What is 12 A & 80 G Registration ? How do you register for 12A and 80G?
12AB,80G REGISTRATION PROCESS New Registration System – Finance Act 2020 https://incometaxindia.gov.in/ Under the new registration mechanism brought by the Finance Act, 2020:- “All existing Charitable trust, Society, Section8 Company or institution under section 12A, section 12AA and section 80G are registered, they need to be registered under the new section 12AB, as Exemption can be claimed under section 10 or 11, as the case may be”. now 1 CBTT has notified the Income Tax (Sixth Amendment) Rules, 2021 with effect from April 2021 The new provisions have come into force on March 26, 2021, by issuance. done with the concept of completeness or continuity Earlier, the Principal CIT or CIT (‘Competent u/s 12A/12AA or 80G, unless canceled by the authority’) Registrations were permanent. New provisions introduced by the Finance Act, 2020 removed and the Act has provided that the existing organization, which is under the Income Tax Act Those who are registered under 12A / 12A A / 80G should also be covered under the section of Income Tax Act 2020 You have to apply for registration under 12AB. A. Registration under section 12 AB 1. Approved the validity of registration under section 12 AB: • The registration granted under section 12 AB will be valid for 5 years. • However, in case of provisional registration, it will be valid for 3 years. • Renewal of all registrations granted under section 12AB under the new scheme Will be done. 2. Schedule for the New Registration Process: 1 June to the new registration process prescribed under section 12 AB of the IT Act, was to be started from 2020 and to end by 31st August 2020, which was extended up to October, 2020, and which was extended up to December 31, 2020. was supposed to be abolished, but in view of the current pandemic situation, it was 1 was extended till March 2022, Now 12 A & 80 G registration can be done till 31 March 2022, So now all the existing trusts and institutions Re-register yourself under section 12AB of the IT Act before 31st March 2022. APPLICATIONS FOR REGISTRATION AND APPROVAL UNDER NEW SECTION 12AB OF IT ACT It is necessary to do. 3. Form Filling and Verification: Form numbers 10A and 10AB are given for this purpose. informs online to be filled in and to be completed electronically; (i) Under Digital Signature, if Digital Signature for Income Tax Return (ITR) It is necessary to do (ii) in the case not covered under clause (i) of the Electoral Verification Code Form 10A or 10AB, as the case may be, to be attested by the person who Authorized to verify Income Tax Return (ITR). Form10A Form 10A will be used for the following purposes: • Existing organizations registered / approved under section 12 A / 12 AA / 10 (23 C) / 80 G Application for re-registration/approval • APPLICATION FOR PROVISIONAL REGISTRATION / APPROVAL UNDER SECTION 12AB / 80G Form10AB Form 10 AB will be used for the following purposes: • Converting Provisional Registration to Public Registration • Renewal of registration/approval after five years • Activating Person’s Registration u/s 10 (46) • Re-registration for change of field registered under section 12 4. Expected Dates to Apply: Dates prescribed for Form 10A • Letters applying for Provisional Registration / Approval: Commencement of the previous year 1 month before, from where the above approval is sought. Dates prescribed for Form 10AB • Converting Provisional Registration to Regular Registration: 6 months before the end or 6 months before the start of the activities, whichever is earlier. • Renewal of registration/approval after five years: before 6 months of the expiry • Re-registration for rectification of change of field of work registered under section 12: within 30 days from such amendment. 5. Documents to be submitted: The application in Form No. 10A or 10AB has to be submitted along with the following documents: • Self-attested copy of the registration certificate • Self-attested copy of the trust sheet (in case of public trust) • Self-attested copy of FCRA registration certificate (if any) • Existing order granting registration under section 10 / 12A / 12AA / 12AB / 80G self-certified copy of • Order of denial of registration under 12A / 12AA / 12AB / 80G Self-attested copy (if any) for further details : https://ngotrust.in/ • NEO PAID ID & REGISTRATION DETAILS • Activity report since registration or for the last three years (Financial Year 2018-19) from 2020-21) • Since registration or for the last three years (Financial Year 2018-19 to 2020-21 up to) Self-attested copy of Annual Accounts along with Aegis Report • List of Governing Body / Trustee / Stakeholders / Directors with their names, addresses, PAN numbers, email and with contact number • Religious after registration or for the last three years (FY2018-19 to 2020-21) Amount of expenditure for the activity • Note on the activities of the applicant. 6. Place an Order for Registration: On receipt of the application, the Board shall authorize the Registrar or the Commissioner. Will pass an order in the form of: If the applicant is already registered or registered under section 12AA On successful registration the order placed for registration will be in writing in Form No. 10AC and a A sixteen digit alphanumeric User Registration Number (URN) will also be allotted. (b) in cases where Form No. 10AB has been filled by the applicant: • The order for grant of or cancellation of registration or denial will be in Form No. 10AD. (c) in a case where during the previous year before the beginning of the day before the 4th day of April, 2021, section 12 A Provisional registration in case the application is made under clause (vi) of sub-section (1) With effect from the assessment year commencing from the first day of April, 2022. 7. Can the approval granted under section 12AB be cancelled? • If, at any point of time, it is observed that Form No. 10 A has not been filled in correctly