The CBDT (Central Board of Direct Tax) has issued Notification No. 19/2021 dated 26th March, 2021 prescribing the procedure for Registration including re-approval / revalidation of existing Tax Exemption Registrations of Trust or Institutions. All the existing Trusts or Institution registered u/s. 10(23C) / 12A / 80G have to Re-Register with the Income Tax Department.
The new Rules and Forms will be applicable from 1stApril, 2021 and all charitable Trusts and Institutions already registered u/s. 12A or 12AA or 10(23C) and having 80G certificate must apply for re-approval/revalidation of their registration before 30thJune, 2021.
Re-registration u/s. 80G/12A has to be done in Form No. 10A (It seems that the application for registration u/s. 12A and 80G will have to be done separately. The clarification will be needed from the department in this regard as the application form is same for both the registrations). The 80G Certificate will be valid for period of 5 years. The subsequent registration at the end of 5 years shall be done in Form 10AB.
The following documents are required to be submit along with application:
- Self-Certified copy of Trust Deed / Memorandum and Article of Association.
- Self-Certified copy of PAN Card of Trust / Institution.
- Registration Certificate or Certificate of Incorporation (issued by charity commissioner, registrar of societies or registrar of companies)
- FCRA Registration Certificate, if registered.
- Old Registration Certificate u/s 12A / 80G.
- Audited Accounts along with Acknowledgement of Return of Income and Computation of total income for last 3 years.
- Note on the Activity of Trust / Institution.
- The details of Assets and Liabilities as on the date of Application (if applicable).
Furnishing of the statement u/s. 80G:
From F.Y. 2021-22, every trust / institution registered u/s. 80G shall have to furnish statement of donations based on which the deduction will be available to the donors. The details of donations have to be furnished in Form No. 10BD annually, on or before 31stMay of the subsequent financial year (e.g. the statement for F.Y. 2021-22 will have to be furnished on or before 31.05.2022). Following information shall be required to furnish the statement (Form 10BD):
- PAN / Aadhaar Number of the donor.
- If PAN / Aadhaar is not available then either the passport No. / Elector’s photo identity / Driving License/ Ration Card/ Tax Payer identification Number where the person resides.
- Type of donation i.e. Corpus / Specific Grant/ Others.
- Amount of donation.
- Mode of receipt – Cash/ Kind/ Electronic modes including Account Payee Cheque / Others.
- The certificate in Form No. 10BE to be given to the donor will be available for download from the website of the Income tax Department after furnishing of Form 10BD.
- It is important to maintain complete record of all donors including PAN and address from 01.4.2021.