Reminder for Charitable Trusts and Institutions to Renew Registrations in Chhatrapati Sambhajinagar
Chhatrapati Sambhajinagar: The income tax department has issued a crucial reminder for charitable trusts and institutions to renew their registrations online. To maintain their tax-exempt status, these organizations, registered under sections 12A, 12AB, and 80G of the Income Tax Act, must apply for renewal before September 30. The department has warned that failure to comply could result in the loss of their exemption status after March 31, 2026.
This announcement was made during a joint outreach programme in collaboration with the Chhatrapati Sambhajinagar branch of ICAI (WIRC). During the session, officials emphasized the importance of timely filing of income tax returns and audit reports. They warned that non-compliance could lead to exemptions being denied, adversely affecting trusts that rely on these tax benefits for their operations.
The event saw strong participation from trustees, chartered accountants, and other tax professionals. Officials also clarified that trusts with annual receipts below Rs 5 crore are required to apply for renewal by the deadline. If approved, their registration will be valid for ten years instead of five; however, this extension will not be automatic.
Dr. Nitin Waghmode, Commissioner of Income Tax (Exemptions) Pune, who presided over the session, elaborated on the registration and renewal process in detail. He outlined the list of required documents and stressed that compliance with allied laws, including the Bombay Public Trust Act, GST, ESIC, and PF Acts, is critical for maintaining operational integrity.
