RENEWAL U/S 80G (5)

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Ishan Bedi

Ishan Bedi (Querist)
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07 January 2010 IS IT NECESSARY TO RENEW RECOGNITION CERTIFICATE GRANTED U/S 80G(5)(vi)?

CA Mohd. Ubaid

CA Mohd. Ubaid (Expert)
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07 January 2010 There is no legal requirement as such but it is better to get it renewed otherwise obviously the donor will not get tax benefit.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 January 2010 If the 80G approval is existing as on 01/10/2009 it need not be renewed because approval is deemed to have been continued unless it is cancelled by the Income tax authority. This amendment is as a consequence to the omission of the proviso to clause (vi) of section 80G(5) by The Finace (no.2)Bill,2009.

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CA Mohd. Ubaid

CA Mohd. Ubaid (Expert)
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08 January 2010 Yes Mr Chackrapani you are absolutely right but it is unfortunate that till date in Delhi the Income Tax Department is granting approval u/s 80G only for 2 years in case of fresh registration and for 3 years in case of renewal. I confirmed it from the department.