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Requirement for obtaining registration u/s 12AB w.e.f. 1st April 2021 - Income Tax - Ready Reckoner - Income TaxExtract Requirement for obtaining registration u/s 12AB w.e.f. 1 st April 2021 Application for re-registration/registration of trust or institution Grant of registration to such trust or institution (Period of Reg.) Time limit for making application Time period within which order of registration should be passed Assessment Year from which exemption u/s 11 12 available I) Existing Trusts already registered u/s 12A / 12AA before 1.4.2021. Application in new Form 10A PCIT/CIT, on receipt of an application made, shall pass an order in writing registering the trust or institution for a period of 5 years 3 Months from the date on which this amendment come into force Before expiry of the period of 3 months calculated from the end of the month in which the application was received. (Without inquiries) From the AY for which trust earlier granted registration. II) New Trust application for first time registration. Application in new Form 10A PCIT/CIT, on receipt of an application made, shall pass an order in writing provisionally registering the trust or institution for a period of 3 years (Provisional Registration) 1 Month prior to the commencement of PY relevant to AY for which registration is sought Before expiry of the period of 1 month calculated from the end of the month in which the application was received. (Without inquiries) From the AY relevant to the FY in which application is made. III) Application for regular registration after grant of Provisional Registration Application in Form 10AB PCIT/CIT, on receipt of an application made, a)shall pass an order in writing registering the trust or institution for a period of 5 years b)If not satisfied, pass an order in rejecting such application and also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior to expiry of period of the provisional registration or within 6 months of commencement of its activities. Whichever is earlier. 6 Months from the end of month in which application was received. (With inquiries) From the first of the AY s for which it was provisionally registered. IV. Application for renewal of registration Trust registered u/s 12AB Application in Form 10AB PCIT/CIT, on receipt of an application made, a)shall pass an order in writing registering the trust or institution for a period of 5 years b)If not satisfied, pass an order in rejecting such application and also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior of expiry of registration 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. V. Registration where the trust has adopted or undertaken modifications of the objects Application in Form 10AB PCIT/CIT, on receipt of an application made, a)shall pass an order in writing registering the trust or institution for a period of 5 years b)If not satisfied, pass an order in rejecting such application and also cancelling its registration after affording a reasonable opportunity of being heard. Within a period of 30 days from the date of the said adoption or modification 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. VI. Application for grant of registration has become inoperative due to section 11(7) Application in Form 10AB PCIT/CIT, on receipt of an application made, a)shall pass an order in writing registering the trust or institution for a period of 5 years b)If not satisfied, pass an order in rejecting such application and also cancelling its registration after affording a reasonable opportunity of being heard. 6 Months prior to commencement of AY from which registration sought to be made operative 6 Months from the end of month in which application was received. (With inquiries) From the AY relevant to the FY in which application is made. *With Inquiries (i) Call for such documents or information from the trust or institution or make such inquiries as he thinks necessary in order to satisfy himself about The genuineness of activities of trust or institution; and The compliance of such requirements of any other law for the time being in force by the trust or institution as are material for the purpose of achieving its objects; and (ii) After satisfying himself about the objects of the trust or institution and the genuineness of its activities under item (a) of clause (i) and compliance requirements under item (b) of clause (i).
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