11/05/2022
The step towards growth of your NGO is to get registration as tax exempted NGO i.e., 80G & 12A registration.
12A Registration – This registration helps the trust to get tax exemptions, if donations of the trust applied as per prescribed rules.
80G Registration – This registration helps the done to get deduction under income tax for the amount donated to your trust. Ultimately it will help you to get more donations for the charitable work you are planning to do.
Details & Key Benefits of 12A and 80G are explained below
A trust, society or a Section 8 Company, can apply for 80G & 12A registration with the income tax authorities. Upon filing of legit drafted application with all the supporting of documents (as required by the law) one can get these registrations.
Our team will provide the following services
1. Drafting of application & legal papers for registration
2. Representing you before the income tax authorities to get 80G/ 12A Certification/ Registration
3. Assisting you to get 80G/ 12A Certification/ Registration
Benefits of Registration under Section 12A
The donations received by the trust will be exempted from taxation if applied as per the prescribed law and rules.
· The organization can avail benefits for accumulating or setting aside income. Provided it is not more than 15%.
· The accumulation of income, that, otherwise, get included as income application according to Section 11(2), will not be included in the total income.
· NGO's are entitled to receive grants and funds from various agencies, Government, as well as International. These agencies have been entrusted to provide grants to 12A registered NGO's.
Benefits of 80G Registration under the Income Tax Act
· Direct advantages of registration of NGO with 80G would occur to the donor. He is entitled to claim a tax deduction, by using the receipt of the donation he gets from you.
· 80G registration makes your NGO a promising prospect, enhancing its goodwill and the confidence of those associated with your brand.
· It enables the donor to reap the tax advantage of lowering taxable income associated with it, as well as, glad about contributing to a good cause.
· Only an NGO with both 12A and 80G registration is eligible for government funding.
· Getting an 80G registration also facilitates seeking foreign contributions.
· CSR Funding can be received only for NGO registered u/s 80G
