ALOK RATNA (CHIEF CONSULTANT) (190 Points)
14 January 2011We have started a NGO with a public Trust as a body over 4 years back. But till now no major activity has happened and so we have not registered with income tax department and also we have not filed any Income Tax Return.
Is there any time bar in getting such charitable trust registered with Income Tax Department? if we could not register then how to get it registered and what are sections under which it is to be registered?
ALOK
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 15 January 2011
Section under which Registration procedure is set out : Section 12AA
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Apply in Form No 10A
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Exemption of income will be available for the year in which application is made.
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The prescribed time limit is 1 year from the date of creation of trust. But you may apply right now.
CAclubindia
