August 2020

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Highlights of Finance Act 2020, Charitable trusts and institutions.

Section 12AB | Finance Act 2020 | Amendment in Section 12AA/ 80G/ 80GGA The Finance Act 2020 had made significant changes to the taxation and the governance of Charitable trusts and institutions existing as well as new. The changes pertain to: Procedure for obtaining registration / re-registration for claiming exemption by entities registered under section […]

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Reregistration of Charitable Instititutions from FY 2020-21 onward

Re-registration u/s 12AB for all Charitable Trusts: – All the charitable trusts, section 8 companies, Societies etc need to register again with the Income Tax Authority within 3 months from 1st October 2020. All such existing charitable trusts/institutions to apply for re-registration of 12A (w.e.f. 1st October 2020). It has been proposed that all existing

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