The Central Board of Direct Taxes (CBDT) notified the new Form 10A which is available for e-Filing for registration or provisional registration or intimation or approval or provisional approval.
A new clause (ac) has been inserted in subsection (1) of section 12A with effect from April 1, 2021 which states that notwithstanding anything contained in clauses (a) to (ab), the person in receipt of the income who wants to claim benefit of section 11 & 12 is to made an application in the prescribed form (10A or 10AB) and manner to the Principal Commissioner or Commissioner, for registration of the trust or institution.
Firstly, in the case where a trust or Institution has existing registration under section 12A or 12AA, the prescribed Form and timeline for applying for registration is Form No. 10A within 3 months from the April 1, 2021.
Secondly, in the case where trust or institution is registered under section 12AB and the period of the said registration is due to expire (Section 12AB is under new process or new law effective from April 1, 2021), the prescribed Form and timeline for applying application for registration is Form No. 10AB at least 6 months prior to expiry.
Thirdly, in the case where trust or institution has been provisionally registered under section 12AB (Section 12AB is under new process or new law effective from April 1, 2021), the prescribed Form and timeline for applying for registration is Form No. 10AB at least 6 months prior to expiry of period of the provisional registration or within 6 months of commencement of its activities, whichever is earlier.
Fourthly, in the case where registration of the trust or institution has become inoperative due to the first proviso to sub-section (7) of section 11. (Registration u/s 12A or 12AA shall become inoperative from the date on which the trust or institution is approved under clause (23C) of section 10), the prescribed Form and timeline for applying for registration is Form No. 10AB at least 6 months prior to the commencement of the assessment year from which the said registration is sought to be made operative.
Fifthly, in the case where trust or institution has adopted or undertaken modifications of the objects which do not conform to the conditions of registration, the prescribed Form and timeline for applying for registration is Form No. 10AB within a period of 30 days from the date of the said adoption or modification.
Lastly, if there is any other case (including provisional registration), the prescribed Form and timeline for applying for registration is Form No. 10A, at least 1 month prior to the commencement of the previous year relevant to the assessment year from which the said registration is sought, and such trust or institution is registered under section 12AB.
It is noteworthy that the existing Form 10A has been replaced by new Form 10A.
There are six significant changes in Form 10A or 10AB.
Firstly, in case PAN or Aadhaar number of Author/Founder/ Settlor/Trustee/ Member of society/Member of the Governing Council/ Director/ shareholder holding 5% or more of shareholding / Office Bearer is not available they can provide Taxpayer Identification Number of the country where the person resides, Passport number, Elector’s photo identity number, Driving License number or Ration card number.
Secondly, now applicants need to provide details of registration on DARPAN Portal or under FCRA Act or any provision of Income-tax Act.
Thirdly, applicants need to confirm if they have filed an Income Tax Return of the last assessment year.
Fourthly, earlier 10G form for 80G registration has been withdrawn, the same can be applied now with Form 10A or 10AB as the case may be.
Fifthly, applicants need to provide details of Income & Expenditure of Religious Activity.
Sixthly, applicants need to provide following details related to Assets & Liabilities and Income.
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