12A 80G REGISTRATION

( 12A 80G REGISTRATION )

12A and 80G Registration are certifications provided to non-profit organizations under the Income Tax Act, of 1961, in India. These registrations offer tax benefits and enhance the credibility of organizations working for charitable purposes.
12A Registration: Grants tax exemption to the organization's income. Once registered, the income of the organization is not taxable, provided it is used for charitable purposes.
80G Registration: Allows donors to claim tax deductions on their contributions to the organization. Donors can deduct 50% or more of the donation amount from their taxable income, as per the applicable provisions. These registrations are essential for NGOs, trusts, and Section 8 companies to attract donations and ensure compliance with tax laws while pursuing their social objectives.

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Requirement Document S12A 80G REGISTRATION

Benefits of 12A 80G REGISTRATION

1. Tax Compliance

Filing income tax ensures adherence to legal requirements, preventing issues with tax authorities.

2. Refund Possibility

Proper filing may lead to receiving a tax refund if you've overpaid throughout the year.

3.Deduction Claiming:

It allows you to claim eligible deductions, potentially reducing your taxable income and overall tax liability.

4.Record Maintenance

Filing helps in maintaining accurate financial records, which can be useful for future financial planning and audits.

5.Avoid Penalties

Timely filing helps avoid penalties and interest charges that can accrue from late submissions.

6. Financial Transparency

It provides a clear overview of your financial situation, enhancing transparency and aiding in informed financial decisions.

FAQ ( Frequently Asked Questions )

12A registration is a tax exemption status granted to non-profit organizations (NGOs) under the Income Tax Act, allowing them to be exempt from paying income tax on the donations they receive

80G registration allows donors to claim tax deductions on contributions made to the registered NGO. This means that individuals and businesses can reduce their taxable income based on the amount they donate.

Non-profit organizations like trusts, societies, and Section 8 companies are eligible for 12A and 80G registration, provided they operate for charitable purposes.

Tax Exemption: Organizations are exempt from paying income tax. Attracting Donations: Donors are more likely to contribute if they can claim tax deductions. Credibility: Registration enhances the organization’s credibility.

Applications can be submitted online through the Income Tax Department's e-filing portal. Required documents include the organization's registration certificate, governing documents, and financial statements.

Certificate of registration Memorandum of association or trust deed Financial statements (if applicable) Details of the governing body A list of activities undertaken

80G registration is usually granted for an indefinite period but may need to be renewed if the organization undergoes significant changes.

Yes, if the organization fails to comply with the regulations or does not maintain its charitable activities, the registration can be revoked.

For updates or renewals, organizations must submit relevant documents and a fresh application if there are changes in their structure or activities.

Organizations can accept foreign contributions if they are also registered under the Foreign Contribution (Regulation) Act (FCRA).

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