Deadline for re-validation of 12AA & 80G is NOT 31st December 2020

There seems to be a new and unnecessary buzz within the voluntary sector regarding deadline for the re-validation of 12AA and 80G certificates with Income Tax. Please note that the deadline is not 31st December 2020.

Finance Act 2020

As per Finance Act 2020 the renewal of tax exemption and tax deduction certificates was originally supposed to commence on 1st June and end by 31st August 2020. However, due to the pandemic and lockdown this was extended to the time frame starting 1st October and ending on 31st December 2020.


Deferred to 1st April 2021

However, this exercise has now been deferred to 1st April 2021 under ‘The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020.
‘The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 can be downloaded or read at:
http://egazette.nic.in/WriteReadData/2020/222110.pdf


Advisory

  1. In our opinion there is no immediate cause for any concern.
  2. Please await the new Rules and new Forms which CBDT has been tasked to prepare.
  3. To reiterate, the exercise to renew your trust or institution’s 12AA and 80G registrations will now be in next Financial Year starting 1st April 2021. Till then enjoy the festive season!

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