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TMI BlogVarious Form to be furnished by the trust or institutionX X X X Extracts X X X X X X X X Extracts X X X X ..... ovisionally registered/approved trusts will again need to apply for regular registration / approval in Form No. 10AB at least six months prior to the expiry of the period of provisional registration/approval or within six months of the commencement of activities, whichever is earlier. Form 10BD The deduction under section 80G of the Act in respect of a donation made by a donor to a fund or institution referred to in sub-clause (iv) of clause (a) of sub-section 80G(2), shall be allowed to the donor only if a statement of such donations is furnished by the donee in Form 10BD. Form 10BE The certificate of such donation is required to be provided in Form No. 10BE. Further, Form No. 10BD and Form No. 10BE are required to be furnished on or befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mulated or set apart for application to such objects subject to conditions Applicable for trust/Institution registered u/s 12AA/12AB) Whole or part of the income has not been received during the Relevant year (Scenario 1) OR Income received on 31st March (Scenario 2) 1. Accumulation Period - 5 years 1. File Form 9 on or before filing ITR as specified u/s 139 of the Act. 2. File Form 10 on or before filing ITR as specified u/s 139 of the Act. 2. Scenario 1-should be applied during the PY in which the income received Or in the next immediately FY. 3. invested or deposited in form or mode specified u/s 11(5). 3. Scenario 2- should be applied in the Next immediately FY Filing of Form 10B or 10BB amendment thereof Revised audit report in Form No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lause, exceeds rupees five crores during the previous year; or such fund or institution or trust or university or other educational institution or hospital or other medical institution has received any foreign contribution during the previous year; or such fund or institution or trust or university or other educational institution or hospital or other medical institution has applied any part of its income outside India during the previous year; (b) Form No. 10BB in other cases. Explanation.- For the purposes of sub-clause (II) of clause (a), the expression foreign contribution shall have the same meaning assigned to it in section 2(1)(h) of the Foreign Contribution (Regulation) Act, 2010 . (B) In the principal Rules, for rule 17B , the foll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Institutions approved u/s 10(23C) Receipt of any foreign contribution under FCRA Form No.10B Trust or Other Institutions approved u/s 10(23C) Application of any income outside India Form No.10BB In any other case not covered above Where total income of Trust or Institution does not exceed ₹ 5 Crore during the previous year. Where the Trust or Institution does not receive any amount of foreign contribution. Where the Trust or Institution does not apply any amount of its income outside India in the Previous Year. Important Notification Circular Central Board of Direct Taxes, in exercise of its powers under section 119 of the Act hereby allows those trusts / institutions which have furnished audit report on or before 31st October, 2023 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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