NEW PROVISIONS RELATING TO FRESH REGISTRATION/ APPROVAL OF TRUSTS / INSTITUTIONS/FUND(TIF) W.E.F 01/04/2021


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NEW PROVISIONS RELATING TO FRESH REGISTRATION/ APPROVAL OF TRUSTS / INSTITUTIONS/FUND(TIF) W.E.F 01/04/2021
Category: Charitable Institutions, Posted on: 23/04/2021 , Posted By: Mahendra K. Satya & Co.

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Provisions relating to the TIF requiring fresh registration/approval are summarized as follows:

S no.	Particulars	Section 12A (Rule 17A)	Section 10(23C) (Rule 2C)	Section 80G (Rule 11AA)
1	Time limit within which application has to be made	Atleast 1 month prior to end of PY from which Registration/approval is sought
2	Form to be filled	Form 10A to be filed online
3	Time limit within which application is to be disposed off	Within 1 month from the end of the month in which the application was received by concerned Authority.
4	Period of validity of Registration/ Approval	Provisional Registration/approval shall be given for a period of 3 years
5	Year from which Registration/ Approval is Applicable/ Effective	Registration/Approval will be effective from FY in which application was made .
6	Documents to be submitted	1.Self-certified copy of instrument/document/registration 2.Copy of registration under FCRA if any 3.Self-certified copy of order of rejection of application for grant of registration u/s 12A 4.Self-certified copies of the annual accounts (not been more than 3 years) 5.Note on the activities of the applicant
7	Grant of Registration/ Approval	Registration/approval shall be made in Form No.10AC
8	Verification by Concerned Authority while granting registration/approval	If, at any point of time, it is noticed that Form No. 10A has not been duly filled in by not providing, fully or partly, or by providing false or incorrect information or documents, or not complying with verification procedure in sub rule 3 & 4 of respective applicable rules, PCIT/CIT after giving an opportunity of being heard, may cancel the registration granted in Form No. 10AC and URN shall be deemed to have never been granted or issued. Further, relevant provisions of the Act of cancellation of registration/approval are not applicable in case of provisional registration.
9	Verification	Form shall be verified by the person who is authorized to verify the return of income through digital signature/ electronic verification code

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This document is prepared by research team of our firm to provide basic knowledge of law relating to charitable institutions.
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