Section 12AB Registration

Section 12AB registration is a newly introduced registration process under the Income Tax Act, 1961. It is mandatory for all charitable trusts and institutions who have been granted registration under section 12A to get registered under section 12AB.

The process for obtaining registration under section 12AB involves the following steps:

1. Submitting an application: The charitable trust or institution needs to submit an application in Form No. 10A to the Principal Commissioner or Commissioner of Income Tax.

2. Verification: The Principal Commissioner or Commissioner will verify the application and may call for additional information or documents if required.

3. Registration certificate: If the application is approved, the Principal Commissioner or Commissioner will issue a registration certificate in Form No. 10AC.

4. Effective date of registration: The registration under section 12AB is effective from the date of registration certificate or any other date as mentioned in the certificate.

Documents required for Section 12AB registration:

1. PAN card: A copy of the PAN card of the charitable trust or institution.

2. Registration certificate under section 12A: A copy of the registration certificate granted under section 12A.

3. Trust deed or Memorandum of Association and Articles of Association: A copy of the trust deed or Memorandum of Association and Articles of Association.

4. Details of activities: Details of the activities carried out by the charitable trust or institution.

5. Financial statements: The balance sheet and income and expenditure statement of the last three years.

6. Details of members or trustees: Details of the members or trustees of the charitable trust or institution.

The time required for obtaining registration under section 12AB may vary depending on the verification process and the workload of the tax authorities. Generally, it may take around 2-3 months to obtain registration under section 12AB.