What Is Form 10AC?

Charlotte Miller

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what is form 10ac

Are you curious to know what is form 10AC? You have come to the right place as I am going to tell you everything about form 10AC in a very simple explanation. Without further discussion let’s begin to know what is form 10AC?

Form 10AC holds crucial importance in the realm of charitable trusts and non-profit organizations. It is a document that plays a vital role in the annual reporting requirements for these entities. In this blog post, we will delve into the world of Form 10AC, understanding its purpose, content, and the significance it holds in ensuring transparency and accountability in the operations of charitable trusts.

What Is Form 10AC?

Form 10AC is a specific form prescribed by the Income Tax Department of a country (such as India) for charitable trusts and non-profit organizations to provide detailed information about their activities, finances, and compliance with tax regulations. It serves as an annual statement of accounts and annual return, outlining the financial and operational aspects of the trust or organization for a given financial year.

Purpose And Significance:

The primary purpose of Form 10AC is to ensure transparency, accountability, and regulatory compliance in the functioning of charitable trusts. It serves as a means for the trust or organization to disclose financial information, including income, expenditure, assets, and liabilities, to the relevant tax authorities.

The form serves as an essential tool for the government and other stakeholders to evaluate the activities and financial health of charitable trusts. It helps verify the proper utilization of funds for the stated charitable purposes and ensures that tax exemptions and benefits granted to these entities are justified and in accordance with applicable regulations.

Content Of Form 10AC:

Form 10AC typically includes the following information:

  1. General Information: The form requires basic details such as the name and address of the charitable trust, its registration number, and the financial year to which the report pertains.
  2. Statement of Income and Expenditure: This section provides a comprehensive overview of the trust’s financial activities during the financial year. It includes details of income from various sources, such as donations, grants, investments, and any other revenue streams. Additionally, it outlines the expenditure incurred by the trust, including administrative expenses, program costs, and other operational costs.
  3. Balance Sheet: The balance sheet section of Form 10AC presents the financial position of the trust at the end of the financial year. It includes details of assets, liabilities, reserves, and funds maintained by the trust. This information provides insights into the trust’s financial stability and its ability to fulfill its charitable objectives effectively.
  4. Compliance with Regulatory Provisions: The form requires the trust to provide information regarding compliance with tax laws, including details of tax deductions claimed, if any. It also necessitates the disclosure of any changes in the trust’s activities or status during the financial year.
  5. Certification: Form 10AC often requires a certification by a qualified chartered accountant or auditor, affirming the accuracy and completeness of the financial information provided in the form. This certification adds credibility to the reported financial data and enhances the trust’s transparency and accountability.


Form 10AC is an integral part of the annual reporting process for charitable trusts and non-profit organizations. It serves as a comprehensive financial statement, allowing these entities to showcase their financial activities, adherence to regulatory provisions, and commitment to transparency. By submitting this form, charitable trusts fulfill their obligation to provide accurate and reliable financial information, reinforcing trust with stakeholders and ensuring compliance with tax regulations.

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What Is The Benefit Of Form No 10AC?

10AC – Order for Registration for Charitable & Religious Societies/Trusts. The Finance Act, 2020 made overhaul in provisions relating to registration of charitable and religious institution with the Income tax Department. There was complete change in registration process. It is through means of technology.

How Do I Get A 10AC Certificate?

e-file >> Income-tax Forms >> View Filed Forms >> Select Form 10A >> click on Download pdf button. Form 10AC will get downloaded on your system. In case, you have neither received through email nor able to download from the portal, please call Helpdesk Number 1800 103 0025 (or) 1800 419 0025 and share the details.

What Is Form 10a In Income Tax?

Form 10A applies to a charitable or religious trust for applying and obtaining registration under Section 12A. Those charitable or religious trusts who wish to claim exemptions under Section 11 and 12 are required to get registered under the Income Tax Act of India by filing Form 10A.

What Is The Validity Of Form 10AC?

A newly created trust will be provided with a provisional registration, which will be valid for three years. Also, such trust needs to apply for permanent registration six months prior to completion of this three-year validity period or within six months of commencement of activities, whichever is earlier.

What Is Clause IV Of First Proviso To Sub Section 5 Of Section 80G?

sub-clause (A) of clause (iv) of first proviso to sub-section (5) of section 80G, the provisional approval shall be effective from the assessment year relevant to the previous year in which such application is made.]

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