Appointment of professional Chartered Accountant firm for Re-registration of Institute of Urban Transport (India) as Trust under section 12 AB
As per new provisions of the Finance Act, 2020, Charitable Trusts and Exempt Institutions will have to re-apply for Income Tax Registration. All the existing charitable and religious institutions (including NGOs) which are registered or approved under the section 12 A are compulsorily required to switch to section 12 AB for fresh registration.
2. The Institute of Urban Transport (India) (IUT) was registered on 7th May, 1997 as a professional body under the purview of Ministry of Housing & Urban Affairs, Government of India as a premier professional non-profit making organization under the Societies Registration Act, 1861. The objective of the Institute is to promote, encourage and coordinate the state of the art of urban transport including planning, development, operation, education, research and management. The membership of the Institute comprises Academicians, Architects, Economists, Engineers, Transport Planners, Town Planners and professionals from various disciplines. The Institute has 67 Institutional members, 1600 individual members.