Requirement for obtaining registration u/s 12AB w.e.f. 1st April 2021 - Income Tax - Ready Reckoner - Income Tax

Requirement for obtaining registration u/s 12AB w.e.f. 1 st April 2021 [ Read With Rule 2C and Rule 17 ] Application for re-registration/registration of trust or institution [ Section 12A(1)(ac) ] Grant of registration to such trust or institution (Period of Reg.) [ Section 12AB(1) ] Time limit for making application [ Section 12A(1)(ac) ] Time period within which order of registration should be passed [ Section 12AB(3) ] Assessment Year from which exemption u/s 11 12 available [ Section 12A(2) ] [Sub-clause (i) ] Existing Trusts already registered u/s 12A / 12AA before 1.4.2021. Application in new Form 10A PCIT/CIT, on receipt of an application made, shall pass an order in writing registering the trust or institution for a period of 5 years 3 Months from the date on which this amendment come into force. [The Board stating that Form No .10 A in some of such cases could not be filed by 31.03.2022. It has been requested that the delay in filing of Form No.10A in such cases may be condoned. vide Circular 22/2022 dated 01.11.2022 ] Before expiry of the period of 3 months calculated from the end of the month in which the application was received. (Without inquiries) From the AY for which trust earlier granted registration. [Sub-clause (ii) ] Application for renewal of registration Trust registered u/s 12AB or w.e.f. 01.10.2024 Approved u/s 10(23C) (vi)/(v)/(vi)/ (via) [ Inserted vide Finance (no. 2) Act, 2024 ] Application in Form 10AB. PCIT/CIT, on receipt of an application made, a) shall pass an order in writing registering the trust or institution for a period of 5 years b) If not satisfied, pass an order - in rejecting such application and - also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior of expiry of registration 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. [Sub-clause (iii) ] Application for regular registration after granted Provisional Registration u/s 12AB or w.e.f. 01.10.2024 provisionally approved u/s 10(23C) (vi)/(v)/(vi)/ (via) [ Inserted vide Finance (no. 2) Act, 2024 ] Application made in Form 10AB PCIT/CIT, on receipt of an application made, a) shall pass an order in writing registering the trust or institution for a period of 5 years b) If not satisfied, pass an order, - in rejecting such application and - also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior to expiry of period of the provisional registration or within 6 months of commencement of its activities. Whichever is earlier. [ Extension of time line for electronic filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G vide Circular 08/2022 dated 31.03.2022 ] 6 Months from the end of month in which application was received. (With inquiries) From the first of the AY s for which it was provisionally registered. [Sub-clause (iv) ] Application for grant of registration has become inoperative due to section 11(7) Application in Form 10AB PCIT/CIT, on receipt of an application made, a) shall pass an order in writing registering the trust or institution for a period of 5 years b) If not satisfied, pass an order - in rejecting such application and - also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior to commencement of AY from which registration sought to be made operative 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. [Sub-clause (v) ] Registration where the trust has adopted or undertaken modifications of the objects Application in Form 10AB PCIT/CIT, on receipt of an application made, a) shall pass an order in writing registering the trust or institution for a period of 5 years b) If not satisfied, pass an order - in rejecting such application and - also cancelling its registration after affording a reasonable opportunity of being heard. Within a period of 30 days from the date of the said adoption or modification 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. [sub-clause (vi)(A) ] In any other case (applicable upto 30.09.2023) In any other case (applicable from 01.10.2023), where activities of the trust or institution have not commenced Application in new Form 10A PCIT/CIT, on receipt of an application made, shall pass an order in writing provisionally registering the trust or institution for a period of 3 years (Provisional Registration) 1 Month prior to the commencement of PY relevant to AY for which registration is sought Before expiry of the period of 1 month calculated from the end of the month in which the application was received. (Without inquiries) From the AY relevant to the FY in which application is made. [sub-clause (vi)(B) ] In any other case (applicable from 01.10.2023), where activities of the trust or institution have commenced and no income or part thereof of the said trust or institution has been excluded from the total income on account of applicability of u/s 10(23C) (vi)/(v)/(vi)/ (via), or section 11 or section 12, for any previous year ending on or before the date of such application. PCIT/CIT, on receipt of an application made, a) shall pass an order in writing registering the trust or institution for a period of 5 years b) If not satisfied, pass an order - in rejecting such application after affording a reasonable opportunity of being heard. at any time after the commencement of such activities within 6 month from the end of the month in which registration application uploaded. For the AY following the financial year in which registration application uploaded. *With Inquiries (i) Call for such documents or information from the trust or institution or make such inquiries as he thinks necessary in order to satisfy himself about The genuineness of activities of trust or institution; and The compliance of such requirements of any other law for the time being in force by the trust or institution as are material for the purpose of achieving its objects; and (ii) After satisfying himself about the objects of the trust or institution and the genuineness of its activities under item (a) of clause (i) and compliance requirements under item (b) of clause (i). Other Point The application shall be accompanied by the specified documents under rules as required by Form Nos.10A or 10AB. Mode of Furnishing - Form Nos. 10A or 10AB, as the case may be, shall be furnished electronically, (i) under digital signature, if the return of income is required to be furnished under digital signature; (ii) through electronic verification code in a case not covered under clause (i). Authorised Person - Form Nos. 10A or 10AB, shall be verified by the person who is authorised to verify the return of income under section 140, as applicable to the applicant. Application Granted - On receipt of an application in Form No. 10A , the Principal Commissioner or Commissioner, authorised by the Board shall pass an order in writing granting registration in Form No.10AC and issue a sixteen digit alphanumeric Unique Registration Number (URN) to the applicants. Application Granted - On receipt of an application in Form No. 10AB , the Principal Commissioner or Commissioner, authorised by the Board shall pass an order in writing granting registration in Form No.10AD and issue a sixteen digit alphanumeric Unique Registration Number (URN) to the applicants. Where the application is filed beyond the time allowed in sub-clauses (i) to (vi), the Principal Commissioner or Commissioner may, if he considers that there is a reasonable cause for delay in filing the application, condone such delay and such application shall be deemed to have been filed within time;