New Proposed Time Schedule for Registration, Approval or Renewal of Charitable Trust with the Income Tax Department as proposed by Finance Bill – 2020 [U/s 12AB or U/s 10(23C)
| Categories of the Trust | Time Schedule for Compliances |
| All the Charitable trusts who are already registered under the existing provisions | Within 3 months of applicability of new provisions – i.e., On or before 31.08.2020 |
| New charitable trusts applying for provisional registration under new scheme proposed by the Finance Bill -2020 | At least 1 month prior to the commencement of the previous year relevant to the assessment year from which provisional registration is sought [Under existing regime, an application can be made in the year from which exemption is sought] |
| For trust which has been provisionally registered as referred above in the new regime | Within 6 months of commencement of its activities or at least 6 months prior to expiry of 3 years period, whichever is earlier |
| Where trust has been granted registration for 5 years under the new regime and the said registration is nearer to expiry | At least 6 months prior to expiry of 5 years registration period |
| Where the trust has changed or undertaken modifications of the objects clause | Within a period of 30 days from the date of the said modification |
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