30 March 2024
We have a Provisional Registration of form 10AC in Section 12 for A-Y 2024-25. So will we be applicable to file form 10A before 31st March 2024 or after that. When can we file it?
10 July 2024
For organizations seeking approval under Section 12A or 80G of the Income Tax Act, the process involves obtaining provisional registration initially. Here’s how the timeline typically works:
1. **Provisional Registration (Form 10AC):** - Provisional registration under Section 12A or 80G is granted based on the application submitted (typically Form 10AC) by the organization. - This provisional registration allows the organization to avail tax benefits and receive donations eligible for deduction under Section 80G.
2. **Filing Form 10A:** - **After Provisional Registration:** Once provisional registration (Form 10AC) is granted, the organization needs to apply for final registration by filing Form 10A. - **Timeline:** Form 10A should be filed within 6 months from the end of the month in which the provisional registration was granted. This means if your provisional registration was granted in the assessment year 2024-25 (AY 2024-25), you generally have until September 30, 2024, to file Form 10A. - **Example:** If provisional registration was granted in March 2024, Form 10A should be filed by September 30, 2024.
3. **Consequence of Not Filing Form 10A:** - If Form 10A is not filed within the stipulated timeframe, the provisional registration under Section 12A or 80G will lapse. This could impact the tax-exempt status and eligibility for tax benefits under these sections.
### Conclusion: To summarize, after obtaining provisional registration (Form 10AC) under Section 12A or 80G for the assessment year 2024-25, you should plan to file Form 10A within 6 months from the end of the month in which provisional registration was granted. Ensure timely filing to secure final registration and continue to avail tax benefits and receive donations under the applicable sections of the Income Tax Act. If you have specific details or deadlines related to your provisional registration, consulting with a tax advisor or chartered accountant can provide tailored guidance based on your organization’s circumstances.
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