Last date of Section 12AB Registration
Section 12AB comes into effect from 1st June 2020 and eligible assessee is required to apply for registration and approval within a period of 3 months
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Section 12AB
Section 12AB comes into effect from 1st June 2020 and eligible assessee is required to apply for registration and approval within a period of 3 months
Finance Act 2020, has introduced a new “Section 12AB” for significant changes in compliance and registration procedure of Religious and Charitable Trusts/institutions, etc. Under the new regime, amendments of Section 10(23C), Section 11, Section 12A, Section 12AA, Section 80G, and insertion of a new Section 12AB were proposed.
The application for registration under section 12AB of the Income Tax Act can be made by filing Form 10A online on the Income Tax Portal.
It is mandatory for a trust to get the registration under section 12AB of Income Tax Act, 1961, so as to claim an exemption under section 11.