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12A & 80G provisional Final Registration

As of my last update in September 2021, Form 12A and Form 80G are relevant to the Indian Income Tax Act and pertain to the registration of charitable and religious trusts or institutions and the granting of tax exemptions to donors, respectively.

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As of my last update in September 2021, Form 12A and Form 80G are relevant to the Indian Income Tax Act and pertain to the registration of charitable and religious trusts or institutions and the granting of tax exemptions to donors, respectively. Here’s an overview of each form:

  1. Form 12A (Provisional Registration of Trust or Institution): Form 12A is used for the application of registration under Section 12A of the Income Tax Act, 1961. This section provides an exemption from income tax to charitable or religious trusts or institutions. By obtaining registration under Section 12A, the trust or institution becomes eligible for tax exemptions on its income.

The registration under Form 12A is provisional, and it is subject to the fulfillment of certain conditions as per the Income Tax Act. Once the registration is granted, the trust or institution must maintain its charitable or religious activities and comply with other statutory requirements to retain the tax-exempt status.

  1. Form 80G (Approval of Donations for Tax Exemption): Form 80G is used for the approval of donations made to charitable trusts or institutions to claim tax deductions under Section 80G of the Income Tax Act. Donations made to institutions approved under this section are eligible for deduction from the taxable income of the donor, subject to prescribed limits.

To claim tax deductions, donors need to provide the details of the approved trust or institution, along with the donation receipts, in their income tax return. The eligible amount donated will be deducted from the donor’s total taxable income, resulting in reduced tax liability.

Please note that tax laws and forms may have been updated or revised since my last update. Therefore, I recommend referring to the official website of the Income Tax Department of India or consulting with a qualified tax professional for the most current and accurate information regarding Form 12A, Form 80G, or any other tax-related matters in India.

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