Up under section 25 of the Companies Act 1956.
#DONATE US 80G REGISTRATION#
Registration Act 1860 or under any law corresponding to that act or is signed V) the NGO is appropriately signed up under the Societies Iv) the NGO maintains routine accounts of its expenditures Iii) the NGO is not working for the advantage of particular Regulation for investing the income or possessions of the NGO for purposes Ii) the bye laws or goals of the NGOs must not contain any Preserve separate books of accounts and need not divert donations gotten for If the NGO has business income, then it ought to I) the NGO must not have any income which are not exempted, Conditions for registration u/s 80g:įor approval under section 80G the following conditions are
#DONATE US 80G VERIFICATION#
This is of a real great help especially during the investigation by the IB officers during FCRA Registration or verification by the government officials applicable for government funding or any corporate officials applicable for corporate social responsibility funding.
They should maintain their balance sheets, annual reports, accounts, records, bills, vouchers, photographs for proof of their social activities. Today in this growing IT world, the website of a NGO is essential which speaks about the NGO profile, activates, their members, its history, address and the social work done by it. By doing such, their taxes are deducted by 50% of the donation given. Besides, the corporate and the ministries prefer to give donations to those who are having 12a and 80g registration. NGOs do not have to pay tax for the entire lifetime if it gets registered under section 12a. The following documents are required for 80g registration.Section 12a and 80g is of a great relief. A newly registered ngo can also apply for 80g registration. If an ngo gets registered under 12A and 80g, then only it is applicable for any government funding. If an NGO gets itself registered under section 80g then the person or the organisation making a donation to the NGO will get a deduction of 50% from his/its taxable income.
All NGO's should avail the advantage of these provisions to attract potential donors. The Income Tax Act 1961 has certain provisions which offer tax benefits to the "donors". An NGO can avail income tax exemption by getting itself registered and complying with certain other formalities, but such registration does not provide any benefit to the persons making donations.
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