FORM 10 AC QUERY U/S 12A

[satbir singhwahi]

Trust registered and commenced work 10.04.2000. Got registration from Income tax u/s 12A. Now on 31.05.2021 received renewal Form AC for Assessment Year 2022-23 to 2026-27. But on form it is written Provisional registration. Whether Trust is eligible for exemption under section 11 as form is provisional but validity upto 31.03.2026. Pls guide what is the resolution.

AI Summary

Trust Maintains Eligibility for Section 11 Exemption Despite Provisional 12A Registration for 2022-2027 Assessment Years A trust, registered and operational since April 2000, received a provisional registration form for the assessment years 2022-2023 to 2026-2027 under section 12A. The concern was whether this provisional status affected eligibility for exemption under section 11. A respondent clarified that the income tax department initially issued certificates labeled as 'Provisional Registration' due to procedural changes, but the trust remains eligible for the exemption until the assessment year 2026-2027.