Eligibility Criteria for Charitable Trust Registration Under Income Tax Act

The eligibility criteria for charitable trust registration under the Income Tax Act are as follows. The trust must be established for charitable purposes, which include relief of poverty, advancement of education, advancement of religion, and any other object of general public utility. The trust’s activities should be genuine and not aimed at profiting individuals or specific groups. The trust’s income and property should be solely utilized for charitable purposes, and no part of it should be used for the benefit of the trust’s trustees or members. The trust should maintain proper books of accounts and have its accounts audited annually. Additionally, the trust must apply for registration with the Income Tax Department by filing Form 10A, along with necessary supporting documents and information. Meeting these eligibility criteria is essential for a charitable trust to obtain tax-exempt status and enjoy the benefits provided by the Income Tax Act for charitable organizations. To register as a charitable trust organization, you can contact ASC Group, they assist in end-to-end advisory.