In case there is an organization recommended u/s 10(23C) then the re-approval arrangements have now been integrated for the money work, 2020. It could be observed that an institution is eligible u/s 10(23C) whereas an institution was authorized u/s 12A/12AA (today part 12AB). The a pproval are taken by filing an application in type No. 56D (now altered to create No. 56) where a loan application for registration is created in type No. 10A for a charitable believe.
A straightforward process of re-registration: the task to re-registration appears to be simple. Since confidence is already licensed, the idea will be render a subscription numbers and enrollment certificate that is computer-generated. For this reason, an easy application might informed for the true purpose of re-registration u/s 12AB. Although no form try however notified for the true purpose of re-registration u/s 12AB for all the established trusts. No detailed scrutiny of papers an such like. is anticipated to happen regarding re-registration. More, there will be no lapse inside exemption cycle in addition to same can be persisted within FY 2020-21.
Following the re-registration, all the trusts would be signed up under area 12AB . Read More