Re-obtaining Section 12AA Registration| Approval U/s. 10(23C) & 80G

• February 10, 2020
• CA Chandan Agarwal's Office

Budget 2020: Re-obtaining Of Registration under Section 12AA & Approval under Section 10(23C) & Section 80G by Existing Registered / Approved Entities – Concerns and Issues

Introduction: The income of the charitable / religious trusts, institutions, universities, educational institutions, hospitals, other medical institutions etc. etc. which are registered U/s. 12AA or approved U/s. 10(23C) of the Income Tax Act is exempt from tax. Similarly, the donors granting donations to the institutions, funds etc. approved U/s. 80G gets deductions for that. The provisions relating to above registration / approval for tax exemption / deductions are on the statute since long time. Over this long period large no. of institutions have got approved / registered. The registration / approval originally granted to them under existing law was without any expiry period (though may be cancelled in specific situations).

Read more on: https://taxguru.in/income-tax/obtaining-section-12aa-registration-approval-section-1023c-section-80g.html