Under the banner "NGOenabler" you are doing a commendable job of enlightening Charitable Trusts on how to go about filing various Mandatory Forms. Many thanks for this selfless service. Somehow your name seems to be missing on the screen or in the description. Please do add it atleast for those of us who would like to know. Thanks a lot.
@@NGOenabler Dear Ashis ji, You deserve this appreciation. I am KRNath, retired Professor, from Hyderabad; have established a Foundation (Charitable Trust) in 2023. Thank you once again.
Yes ,,, You have done a good work by explaining all about 10B filing ... I understand for AY 2022-2023, Dept is asking for more information on the client .. Kindly have a new video on filing mode for AY 2022-2023
I have a doubt regarding Point no 3 of Annexure I. Regarding selection of drop-down "accumulated or set apart" and "finally set apart", I doubt whether that is for 11(1)(a) and 11(1)(b) since both these words are used in respective sections of the Act. Where in 11(1)(b) is for the trust having been created before the commencement of this Act. Same way the next drop dwon "Wholly" and "in part only". Please clarify sir.
Form 10B is required to be filed only if the total income of the trust or society exceeds the maximum amount not chargeable to tax i.e. Rs. 250000 as of now
No you need not show corpus fund received in Form 10B. But if you have utilized any amount from corpus, it will be not be considered as Application of income.
sir wheter any charitable institution registered under society act act as school but has not registered under the 12A ,has required to file form 10B, if not,which audit report format he provided to his client?
If the total fees is below Rs. 5 crore and only educational activities are carried out, no registration is required and exemption can be claimed u/s 10(23C). You can use a simple independent audit report format for them.
Respected Sir, the final part "Acceptance by NGO" नहीँ हो रहा है । Confirmation पे click करने के बाद screen वापिस जा रही है । कोई Error message भी नहीं आ रहा है । Please Guide.
in AY 2022-23 Total voluntary donation Rs. 35 lacs and Total expenditure of Trust Rs.33 lac and actual payment Rs. 30 lacs only (Remaining o/s ). So in ITR it is shown- Amount applied for charitable Institute Rs. 30 lacs and Amount set aside Rs. 5 lacs. Now I have doubt that in Form 10B what amount to be shown in column- Amount applied for charitable purpose ? and amount set aside during the year ? Whether it should be shown as per ITR or as per actual expenses in Income & Exp. statement Further if as per ITR then P&L we upload will contradict and If we show as per actual expenses then what will be amount set aside? If we take this amount as per ITR then total expenses and amount set aside in totally exceed the total donation amount.
Sir, All your videos in this Chanel are simply superlative and easy to follow. Thanks and please continue your good work. Sir, I have applied for renewal of registration of u/s. 12A and new approval u/s.80G in form No.10A during Sep 2021. I also got provisional registration certificates for both in form no.10AC. I have downloaded the same and have a physical copy. However I wanted to down the registration certificates now ( on 20/01/2022 ) from the Incometax Portal, but I am getting a message that " ACCESS DENIED ". Same is also for other ngos which has already been registered having registration certificate in 10AC. How can down load for other NGOs who has applied in form No.10A but did not download the registration certificate. Please advise me as to how to download the same. H.S.Ramgopal
Please check our video on how to download Form 10AC - 12A and 80G certificate. If still you are getting an error, do raise E-Grievance and you will get the solution
I tried to download form 10ac, but getting the following message:Access Denied! Sorry! You do not have access to page. You can go back to dashboard. Click here to Go to Dashboard
Sir, I have a doubt. In online form point No.3. A trust having Non-corpus revenue of Rs.8.5 lakhs. It has spent Rs.6 lakhs for the object of the trust, which is less than 85%. short by Rs.122500/- trust does not want to accumulate any amount, Even if Rs.122500/- is taken as taxable income, the tax liability is NIL. I am not able to fill point 3. In such a case how to proceed further. Your video is also silent on this point. Is there anything wrong if the amount is not set apart as there is no tax liability? Awaiting your reply. Thanks in advance.
I got your point. But when you have an option of accumulation to avoid taxation, why not opt it. If you want to make it taxable, very much you can (since no tax might come) but not advisable from our side .
Sir, Many thanks for your early reply. The Trust opt not to exercise the option of accumulation due to nil tax liability, as filing of form 9A also could be avoided. But my doubt, how to proceed further to file form 10B, online, without opting for accumulation (due to nil tax liability and avoiding filing form 9A). What to write in point 3 of the first part of form 10B- Application of income for charitable/religious purposes. More particularly, when I am writing NO against point 2 (Whether the Institution' has exercised the option under clause (2) of the Explanation to section 11(1)?). In my opinion - Point 3 is irrelevant, when I leave it a blank, an error message appears and I could not save that page. Please guide and give your valuable suggestion. Thanks.
When I try to attach the documents, I m getting error msg displayed.. No error is mentioned but just 'ERROR:' is mentioned.. What to do??? I have cross checked file size.. It's all under 610kb together..
Dear sir, Under new income tax portal once we login under e-file-> income tax form-> under person not depend on any source of income (source of income not relevant). There is form 10B can you please let us know what is that used for.
@@NGOenabler thank you for your response. Your video was very insightful. Pl share an update once you decipher. The difference between one explained in video vs in e-file tab is in 2nd option it is asking for financial statements, all relevant documents for audit. I didn see any other difference.
Section 13 is applicable and proper disclosure should be given in Form 10B. So far as allowance or disallowance of such expense is concerned, the onus is upon the organisation to prove that the transaction is at the fair market rates
In my opinion, it should be actual expenditure because in ITR you have a possibility of filling the source of expenses, where earlier year funds can be selected for the excess amount
But if we don’t have any sources for expenses(basically in case of losses ) So should we fill gross income or expenditure which is in excess of income?
Sir, During the registration of the Income Tax Portal which option should be chosen as an NGO registered under the society act 1961? 1. AOP 2.AOP Cooperative society 3. AOP Trust?
This video is soo great de and it helped me alot thanks to the video maker, but good comments talked about veliscyberclinc and he's really good in making tax return and 1040 forms
Under the banner "NGOenabler" you are doing a commendable job of enlightening Charitable Trusts on how to go about filing various Mandatory Forms. Many thanks for this selfless service.
Somehow your name seems to be missing on the screen or in the description. Please do add it atleast for those of us who would like to know. Thanks a lot.
Thank you so much sir/mam for your words of appreciation! Will try to add that from my next video. My name is Ashis Agarwal
@@NGOenabler Dear Ashis ji, You deserve this appreciation. I am KRNath, retired Professor, from Hyderabad; have established a Foundation (Charitable Trust) in 2023. Thank you once again.
Good one
Thank you
Yes ,,, You have done a good work by explaining all about 10B filing ... I understand for AY 2022-2023, Dept is asking for more information on the client .. Kindly have a new video on filing mode for AY 2022-2023
Thank you for the appreciation. Wil surely check and get back
Satisfactory Video to learn easily.
Explain very nicely 👍
Sir.......you have nicely explained. Thankyou very much
Very nice explanation 🙏
Is form 10BB available on the IT portal? Somehow I cannot find it for AY 2023-24 (CURRENT YEAR). Please let me know.
Yes . The utility is available now
Thanks sir
I have a doubt regarding Point no 3 of Annexure I. Regarding selection of drop-down "accumulated or set apart" and "finally set apart", I doubt whether that is for 11(1)(a) and 11(1)(b) since both these words are used in respective sections of the Act. Where in 11(1)(b) is for the trust having been created before the commencement of this Act. Same way the next drop dwon "Wholly" and "in part only". Please clarify sir.
It's for 11(1)(a) .
Can you pls tell the exemption income tax limit for Trust and societies for filing of 10B
Form 10B is required to be filed only if the total income of the trust or society exceeds the maximum amount not chargeable to tax i.e. Rs. 250000 as of now
Sir, Is it need to also show corpus fund received and utilise in form 10B and if yes that at which point number in form 10B.
No you need not show corpus fund received in Form 10B. But if you have utilized any amount from corpus, it will be not be considered as Application of income.
Just waiting to thank you so much
sir wheter any charitable institution registered under society act act as school but has not registered under the 12A ,has required to file form 10B, if not,which audit report format he provided to his client?
If the total fees is below Rs. 5 crore and only educational activities are carried out, no registration is required and exemption can be claimed u/s 10(23C). You can use a simple independent audit report format for them.
If opening stock was 30000 and closing is 10000 then 20000 change in inventory is application of income or not ?
No, because you would have already taken purchases and direct expenses as application of income
@@NGOenabler Thank you sir
If amount utilized/applied is more than total income what should select in point no 3 and what amount field in point no 3.
It should be NIL
@@NGOenabler thank you and what should select from drop down menu accumulated or set apart and wholly?
Respected Sir, the final part "Acceptance by NGO" नहीँ हो रहा है । Confirmation पे click करने के बाद screen वापिस जा रही है । कोई Error message भी नहीं आ रहा है ।
Please Guide.
Site slow ho gaya tha bich mein ..aaj last day hai toh thode issues ho rahe hai! But phir thik se file ho raha tha
@@NGOenabler Thank you sir
Sir is there any chance of extension of FCRA ANNUAL RETURN FILING (FC-4)
AND THANKS AGAIN FOR THIS KNOWLEDGEABLE video.
No information yet.
Sir.. my phone number linked with adhaar bur when i like to e verify .. then ...written show there not in record ....what i will do
Please make digital signature and file the return .
in AY 2022-23 Total voluntary donation Rs. 35 lacs and Total expenditure of Trust Rs.33 lac and actual payment Rs. 30 lacs only (Remaining o/s ). So in ITR it is shown- Amount applied for charitable Institute Rs. 30 lacs and Amount set aside Rs. 5 lacs.
Now I have doubt that in Form 10B what amount to be shown in column- Amount applied for charitable purpose ? and amount set aside during the year ?
Whether it should be shown as per ITR or as per actual expenses in Income & Exp. statement
Further if as per ITR then P&L we upload will contradict and If we show as per actual expenses then what will be amount set aside? If we take this amount as per ITR then total expenses and amount set aside in totally exceed the total donation amount.
We need to show as per ITR. No worries of mismatch as it's as per provision
Sir,
All your videos in this Chanel are simply superlative and easy to follow. Thanks and please continue your good work.
Sir, I have applied for renewal of registration of u/s. 12A and new approval u/s.80G in form No.10A during Sep 2021. I also got provisional registration certificates for both in form no.10AC. I have downloaded the same and have a physical copy. However I wanted to down the registration certificates now ( on 20/01/2022 ) from the Incometax Portal, but I am getting a message that " ACCESS DENIED ". Same is also for other ngos which has already been registered having registration certificate in 10AC. How can down load for other NGOs who has applied in form No.10A but did not download the registration certificate. Please advise me as to how to download the same.
H.S.Ramgopal
Please check our video on how to download Form 10AC - 12A and 80G certificate. If still you are getting an error, do raise E-Grievance and you will get the solution
I tried to download form 10ac, but getting the following message:Access Denied!
Sorry!
You do not have access to page.
You can go back to dashboard.
Click here to Go to Dashboard
sir if i have zero transaction then also need to file 10b form ..
No
Sir, I have a doubt. In online form point No.3. A trust having Non-corpus revenue of Rs.8.5 lakhs. It has spent Rs.6 lakhs for the object of the trust, which is less than 85%. short by Rs.122500/- trust does not want to accumulate any amount, Even if Rs.122500/- is taken as taxable income, the tax liability is NIL. I am not able to fill point 3. In such a case how to proceed further. Your video is also silent on this point. Is there anything wrong if the amount is not set apart as there is no tax liability? Awaiting your reply. Thanks in advance.
I got your point. But when you have an option of accumulation to avoid taxation, why not opt it. If you want to make it taxable, very much you can (since no tax might come) but not advisable from our side .
Sir, Many thanks for your early reply. The Trust opt not to exercise the option of accumulation due to nil tax liability, as filing of form 9A also could be avoided. But my doubt, how to proceed further to file form 10B, online, without opting for accumulation (due to nil tax liability and avoiding filing form 9A). What to write in point 3 of the first part of form 10B- Application of income for charitable/religious purposes. More particularly, when I am writing NO against point 2 (Whether the Institution' has exercised the option under clause (2) of the Explanation to section 11(1)?). In my opinion - Point 3 is irrelevant, when I leave it a blank, an error message appears and I could not save that page. Please guide and give your valuable suggestion. Thanks.
Is it possible to revise form 10b now.. If already verified ?
In my opinion, it should have been revised within the due date prescribed for 10B. If you revise now, it might be considered as delayed filing
When I try to attach the documents, I m getting error msg displayed.. No error is mentioned but just 'ERROR:' is mentioned.. What to do??? I have cross checked file size.. It's all under 610kb together..
It's a technical error which have again started . It was their earlier but was resolved and for quite a number of days it was working well
Dear sir,
Under new income tax portal once we login under e-file-> income tax form-> under person not depend on any source of income (source of income not relevant).
There is form 10B can you please let us know what is that used for.
We are also unable to understand the purpose of giving it there. Still trying to decipher
@@NGOenabler thank you for your response. Your video was very insightful. Pl share an update once you decipher.
The difference between one explained in video vs in e-file tab is in 2nd option it is asking for financial statements, all relevant documents for audit. I didn see any other difference.
Sir, isme pdf file upload karne ka option aa raha h.
Online prepare karni h, Aisa kuch nahi aa raha
Please guide
Pdf file jo upload karni hai, wo audited financial statements ki ! Ye form online hi hai
are both form 10B and 10BB required for Govt. aided Educational Degree colleges ?
No ! The form has to be filed as per the registration taken.
Thank you so much for once again published most useful video Sir. Is there any chance of extension of the FCRA annul return filing?.
No information yet
sir dont we require to give UDIN
Yes but not in the form
Any date extended IT returns by NGOs
It's already 15th February... So, no extension required
Form no 10BB income tax ki site par upload ho raha he kya?
Ho rahi hai
Very valuable information Sir. Excellent presentation. Thank you so much.
Thank you
Hw to file itr 7 au 2021-22 please explain sir
Please connect us through mail on any specific issue on ITR 7. Will revert
Sir , if trustee given his building to Trust on rent and receiving Rent of Rs. 1 lakh per month then whether section 13 is applicable or not??
Section 13 is applicable and proper disclosure should be given in Form 10B. So far as allowance or disallowance of such expense is concerned, the onus is upon the organisation to prove that the transaction is at the fair market rates
@@NGOenabler where we are need to show it in form 10B??
Sir can you show your filed form 10b as i have filed twice but under assigned form it is showing as pending for filing by CA
Sir please reply?
Form 10B utility is available for AY 2021-22?
IF AMOUNT APPLIED EXCEEDS GROSS RECIPTS, POINT-1 SHOULD BE TOTAL INCOME OR ACTUAL EXPENDITURE
In my opinion, it should be actual expenditure because in ITR you have a possibility of filling the source of expenses, where earlier year funds can be selected for the excess amount
@@NGOenabler THANKS..
But if we don’t have any sources for expenses(basically in case of losses )
So should we fill gross income or expenditure which is in excess of income?
When form 10B utility will available for AY 2021-22?
Json is available I guess . Please check
@@NGOenabler nahi mili
Sir please guide how to file form 3CEAD
We don't deal in it. Sorry.
Is 10b applicable on section 8 company
Yes for income tax purposes !
@@NGOenabler Sir... If company has loss then also we have to file 10b.
how to file 9a?
Very soon we will be coming up with a video on it!
ok.
along with reason
FCRA KI DATE BADHEGI SIR
Let's hope!
Galti se request revoked ho gayi.
Ab kya kare please help
Wapis file kar sakte hai.. No problem !
Sir,
During the registration of the Income Tax Portal which option should be chosen as an NGO registered under the society act 1961?
1. AOP
2.AOP Cooperative society
3. AOP Trust?
In my opinion it can be both AOP or AOP (Trust)
This video is soo great de and it helped me alot thanks to the video maker, but good comments talked about veliscyberclinc and he's really good in making tax return and 1040 forms
Thank you sir:-)