- TDS Computation, Payment & Filing
- Professional Tax Computation
- GST Computation, Payment & Filing
- Bank Reconciliation
- Accounts Receivable Management
- Accounts Payable Mangement
- Monthly MIS Reports
To get yourself registered U/s 12A of The Income Tax Act 1961, you need to apply to the Commissioner of Income Tax. Such application should be made within one year from the creation of the Trust. Such an application to be made in Form 10 A. In case such an application is delayed, and the registration will be allowed from the financial year in which such application is made i.e. for earlier years the society will have to pay the Income Tax at the normal rates.
An organisation can get certified U/s 80 G of The Income Tax Act 1961 by making an application in Form 10G along with the activity report for the past 3 years or the least year with the audited report right from the date of establishment or of the past 3 years. The organizations become privileged to provide tax exemption to the Donors who donate to their organization. The main objective is to be able to receive more donations from public, individuals or Corporate.
The Organisations that comply with Income Tax Laws are transparent and clean in their transactions. This brings credibility!
Avail the Tax benefits given by the Indian Government to Non Profit Organisations and Trusts working for a noble cause.
Section 12A & 80G registration is mandatory to get registered under The Foreign Contribution Regulation Act to receive foreign funds.
Section 12A registration is mandatory to claim exemption under Section 10. Your organisation will get 100% Compliant.
When the organisation is eligible to issue Tax Exemption Certificate U/s 80G, the Donors get benefited and will be more willing to contribute.
Government grants are given to the NGO’s / Trusts who are Tax Law Compliant and are having good reputation in the works they undertake.
The applications for both – section 12A & section 80G can be made together. Dully filled in Form – 10A for registration u/s 12A registration; Dully filled in Form – 10G for registration u/s 80G registration;
After compiling the required documents, along with a covering letter, the person responsible on behalf of the Organisation shall submit the documents before Commissioner of Income Tax.
The commissioner shall call for such documents or information from the trust or institution as he thinks necessary in order to check the genuineness of activities of the trust or institution.
On verifying the above documents, the commissioner shall pass an order in writing registering the Organisation Under Section 12A &/ 80G.
On compiling the above documents with covering letter, the responsible person shall submit the documents before Commissioner of Income Tax within which NGO jurisdiction lies. NGO will receive notice for clarifications from Income Tax Department in 2-3 months after applying. Reply of notice will be submitted by the responsible person of NGO along with all relevant desired documents to the Income Tax Departments. Last Step Exemption Certificates will be issued.
Section 12A & 80G
Obtain help of Professionals & Subject matter experts at CFO Affairs to understand the intricacies involved in the registration. We are more than happy to educate you and make your entity registration a hassle free process.
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