I want to know whether for registration of Trust u/s 12A of the Income Tax Ac, 1961 requires Financials of 3 years ? If I have Financials for 2020-21 and want registration for Trust so can I submit Financials of one year (2020-21) for the purpose of registration ?
27 January 2022
Yes, apply for provisional registration under section 12AB. All the existing registered trusts under the section 12A or section 12AA would move to new provision section 12AB. Newly established trusts and institutions applying to income tax for registration for the very first time will be given provisional registration for three years. The provisional registration will be valid for three years.
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