What is Form 10A and for what purpose it is used?

 

Trust who wishes to claim exemption u/s 11 and u/s 12 are mandatorily required to obtain registration under the Income Tax Act in by filing Form No. 10A. Form 10A is used by a charitable or religious trust for applying and obtaining 12A registration. Finance act 2020 has introduced new concept of provisional registration to tackle the practical issue of difficulty in granting registration or approval before the start of actual charitable activities by a trust or an institution. Form Nos. 10A shall be furnished electronically online through digital signature, if the return of income is required to be furnished under digital signature or through electronic verification code in a case non availability of Digital Signature. Form Nos. 10A must be verified by the person who is authorised to verify the return of income under section 140, as applicable to the applicant.

 

Who are required to fill Form-10A?

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1. Trust/Institute already registered under the previous law effective immediately before this amendment (i.e., before 1st April 2021)

• Fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or (v) or (vi) or (via) of section 10(23C) approved under the first proviso

• Trust/Institute registered under section 12A or 12AA

• Institution/fund approved under the clause (vi) of section 80G(5)

• research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) of section 35(1)

Time limit: The time limit of 3months from the date on which the provision came into force. i.e., 30th June 2021 is the time limit for application as the effective date is 1st April 2021

2. Trust/institute not registered under the previous law and want to make an application for fresh Registration or Approval under the new law or any other case then it required to file Form

• Fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or (v) or (vi) or (via) of section 10(23C) approved under the first proviso clause (iv)

• Trust/ Institute – [ sub clause(vi) Clause (ac) of section 12A(1)]

• Institution/fund approved under the clause (vi) of section 80G(5) [ proviso clause (vi)]

Time Limit: At least one month prior to the commencement of the previous year relevant to the assessment year from which the said approval is sought

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Steps to file Form 10A

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Step 1: First, you need to log on to the E-filing portal of the income tax department.

Step 2: Then, you have to go to the E-file menu located at the upper-left side of the website page and click on the Income Tax Forms.

Step 3: You need to select Assessment Year and Form 10A from the drop-down list.

Step 4: You have to select the submission mode as Prepare and submit online from the drop-down list and click on continue.

Step 5: Before filing the form, you need to read the instructions carefully and click on the submit button to complete the process.

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Documents needed to file Form 10A of Income Tax

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The materials that need to be submitted with Form 10A should be checked thoroughly. The exemption under Section 12A is granted basis for the documents submitted.

The following list of documents needs to be uploaded at the time of filing Form 10A:

1) Self-certified copy of the instrument under which the Trust or organization is created

2) Self-certified copy of the evidential document in case the Trust or organization is not established under the above-stated instrument.

3) The self-certified copy of the registration with Registrar of Companies or Firms and Societies or Registrar of Trusts

4) Self-certified copy of documents in case of any changes or modification made post-registration of such Trusts or Organization

5) Self-certified copies of annual reports of the trusts or organization. The annual reports should not be more than 3/three years old from the year in which it is applied.

6) Details of activities of the organization or trusts

7) Self-certified copy of previous rejection order under Section 12A

8) Self-certified copy of existing law wherein registration has been granted under Section 12A

 

 

DISCLAIMER- These materials are public information and have been prepared solely for educational purposes. These materials reflect only the personal views of the author and are not individual legal advice.

It is understood that each case is fact specific and that the appropriate solution in any case will vary. Finally, the owner will not be accountable for any loses injuries or damages from the exposures or usage of this information.

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