The Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III ceased to be effective on or after the 1 April, 2021.
Application for grant of approval to fund or institution under clause (vi) of sub-section (5) of section 80G of the Income-tax Act, 1961.
Earlier 10G form for 80G registration has been withdrawn, the same can be applied now with Form 10A or 10AB as the case may be.
The application from 10A or 10AB as the case may be shall be accompanied by the various documents, as required by Form Nos. 10A or 10AB, as the case may be, namely where the applicant is created, or established, under an instrument, self-certified copy of such instrument creating or establishing the applicant; where the applicant is created, or established, otherwise than under an instrument, self-certified copy of the document evidencing the creation or establishment of the applicant; self-certified copy of registration with Registrar of Companies or Registrar of Firms and Societies or Registrar of Public Trusts, as the case may be; self-certified copy of registration under Foreign Contribution (Regulation) Act, 2010, if the applicant is registered under such Act; self-certified copy of existing order granting registration under section 12A or section 12AA or section 12AB, as the case may be; self-certified copy of order of rejection of application for grant of registration under section 12A or section 12AA or section 12AB, as the case may be, if any; where the applicant has been in existence during any year or years prior to the financial year in which the application for registration is made, self-certified copies of the annual accounts of the applicant relating to such prior year or years (not being more than three years immediately preceding the year in which the said application is made) for which such accounts have been made up; where a business undertaking is held by the applicant as per the provisions of sub-section (4) of section 11 and the applicant has been in existence during any year or years prior to the financial year in which the application for registration is made, self-certified copies of the annual accounts of such business undertaking relating to such prior year or years (not being more than three years immediately preceding the year in which the said application is made) for which such accounts have been made up and self-certified copy of the report of audit as per the provisions of section 44AB for such period; where the income of the applicant includes profits and gains of business as per the provisions of sub-section (4A) of section 11 and the applicant has been in existence during any year or years prior to the financial year in which the application for registration is made, self-certified copies of the annual accounts of such business relating to such prior year or years (not being more than three years immediately preceding the year in which the said application is made) for which such accounts have been made up and self-certified copy of the report of audit as per the provisions of section 44AB for such period; self-certified copy of the documents evidencing adoption or modification of the objects;
It is noteworthy that similar amendment has been done in section 80G, where existing registration or new registration can be renewed/applied by filing application 10A or 10AB as the case may be. Moreover trust or institutions who have been granted 80G registration needs to file a statement containing details of donations received in Form No. 10BD and a certificate in Form 10BE needs to be issued to donors.
The application for grant of exemption or continuance under section 10(23C)(iv) and (v) for the year has been omitted by the CBDT.
Form No. 3CF-I/II and Form No. 3CF-III has been substituted by ‘Form No. 3CF’ under Rules 5C , 5D, 5E and 5F respectively of the Income-Tax Rules, 1962 and manner of furnishing the same has been introduced with regard to deductions of expenditure on scientific research.
Form No 3CF is required to be furnished online electronically.
Form 3CF shall be verified by the person who is authorised to verify the return of income under section 140 of the Act with digital signature (DSC) or EVC.
If the return of income of the applicant is required to be furnished under digital signature, then furnishing Form 3CF with DSC is compulsory else the forms can be furnished with EVC.
Support our journalism by subscribing to Taxscan AdFree. We welcome your comments at info@taxscan.in
