Agarwal Harish & Associates, Chartered Accountants

01/04/2024

28/04/2022

*REMINDER TO TRUSTS HAVING APPROVAL U/S 80G:*

📌 Donations eligible u/s 80G received by Trusts for Financial Year 2021-22 need to be filled in *Form No. 10BD* and should be electronically uploaded & signed by the Managing Trustee/Office Bearer before 15th May 2022.

📌 Following details to be filled up

1. Name of donor.
2. Address of donor.
3. Nature of donation.
4. Mode of receipt.
5. Amount of donation.
6. Section code under which donation was received.
7. PAN No. /Aadhar No./ Tax Identification No. of the donor (in case of Foreign donor)

📌 After uploading Form 10BD, *Form 10BE* has to be downloaded and this *Certificate of Donation* is to be issued to each Donor before 31st May of every year and containing following details.

1) Name of Charitable Organization.
2) PAN
3) Aadhar
4) Approval number u/s 80G

📌 There is a heavy penalty and late fees for not filing the form.

Late fees shall amount to Rs 200/- per day for delay in uploading Form 10BD.

The Assessing Officer may also impose a penalty from minimum Rs. 10,000/- to maximum Rs 1,00,000/-.

22/04/2022

Compulsory to file ITR for the FY 2021-22.

New Income Tax Rule 12AB now mandates Compulsory Return Filing in all following cases-

- Business Turnover Rs. 60 lacs,
- Professional Receipts Rs. 10 lacs,
- TDS & TCS Rs.25,000 and
- Credits in one or more SB A/cs Rs. 50 lacs