Indian Income Tax

Tax India ›› Truts In India›› Registration Of Trust

Registration Of Charitable Trust.

  • The trust should get itself registered [Form No. 10A for Application] with the Commissioner of Income-tax within one year from the date on which the trust is created.
  • The Commissioner may, in his discretion, admit an application for the registration of any trust or institution after the expiry of the aforesaid period. Where an application for registration is made after the aforesaid period, the provisions of sections 11 and 12 will apply from the date of the creation of the trust, if the Commissioner is satisfied that the person in receipt of income was prevented from making the application with the aforesaid period for sufficient reason. If, however, the Commissioner is not so satisfied, provisions of sections 11 and 12 will be applicable from the previous year in which application is made.
  • Section 12AA has been inserted with effect from the assessment year 1997-98 to provide for a procedure to be followed for grant of registration to a trust or institution. According to this, the Chief Commissioner or Commissioner shall call for documents and information and hold enquiries regarding the genuineness of the trust or institution. After he is satisfied about the charitable or religious nature of the objects and genuiness of the activities of the trust or institution, he will pass an order granting registration and if he is not so satisfied, he will pass an order refusing registration, subject to the condition that an opportunity of being heard shall be provided to the applicant before an order of refusal to grant registration is passed by the Chief Commissioner or Commissioner and the reasons for refusal of registration shall be mentioned in such order.
  • The order granting or refusing registration has to be passed within six months from the end of the month in which the application for registration is received by the Chief Commissioner or Commissioner and a copy of such order shall be sent to the applicant. The grant of registration shall be one of the conditions for grant of income-tax exemption.
  • The accounts of the trust should be audited (Form No. 10B) for such accounting year in which its income exceeds Rs. 50,000.
  • From the assessment year 1983-84 onwards, the funds of the trust should be invested or deposited in any one or more of the modes or forms mentioned in section 11(5).
India Tax System
Income Tax
Service Tax
Wealth Tax
Sales Tax
Salary & Perquisites
TDS
Gift Tax
Capital Gains
Retirement Benefits
Housing Property
Partnership Firms
Trusts
VAT In India
Indian Budget 2009-10
Inflation
Corporate Tax in India
Tax Structure in India
Tax Planning for 2010
Investment In India
Savings Schemes In India
Mutual Funds
Insurance
FDI in India
Derivatives
Portfolio Management Services
ULIPs or Mutual Funds
Financial Planning Process
Risk and Return Analysis
Financial Instruments for Tax Saving
Estate Planning
Hedge Funds
Emerging Investment Avenues
Equity and Equity Capital
Investment in Art
Investments in Global Markets
Options Trading
Measures for Security and Portfolio Analysis
ULIP
ETF
Current Accounts
Working Capital
NRI Investments
Online Trading
Forex Trading
Day Trading
Types of Banks
Introduction to Depositories
Value and Growth Investing
Stock and Commodity Trading
Finance & Economy In India
Capital Market
Foreign Exchange Market
Fundamental Analysis
Money Market
Reserve Bank of India
Stock Markets
Technical Analysis
Economic Policies
Personal Finance
Corporate Finance
Economy of India
GDP India
Credit Crisis
Financial Ratios
Anti Money Laundering
Regulatory Environment
Financial Intermediaries
Securities and Exchange Board of India
Insurance Regulatory and Development Authority
Money and Its Importance
Banking
Role of Banks
Automated Teller Machine
Branch Banking
Internet Banking
Phone Banking and Mobile Banking
Banks as Financial Intermediaries
Demat Account
Demand Deposits
Term Deposits
Retail Loans
Investment Banking
Indian Law
Indian Law

Sitemap | Our Partners