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12A and 80G Registration Overview
In order to solve societal problems and advance social welfare, non-profit organisations (NGOs) are essential. NGOs in India can get 12A and 80G certificates to expedite their operations and promote donations. The substantial tax advantages that these certifications provide make it simpler for NGOs to finance their projects and operations.
Understanding 12A and 80G Certifications
- 12A Certification: Section 12A of the Income Tax Act of 1961 permits NGOs to be free from income tax with this certification. This indicates that the NGO is not subject to income tax on its earnings or assets.
- 80G Certification: Donors may claim tax deductions under Section 80G of the Income Tax Act of 1961 thanks to this certification. Donations to an 80G-certified NGO can lower an individual’s or organization’s taxable income.
Benefits of 12A and 80G Certifications
- Tax Benefits: Both certifications offer significant tax benefits to NGOs and their donors.
- Enhanced Credibility: These certifications enhance the credibility and reputation of NGOs.
- Ease of Fundraising: 80G certification makes it easier for NGOs to raise funds from donors.
- Smooth Operations:12A certification simplifies the financial operations of NGOs.
Documents Required for 12A and 80G Registration
To apply for 12A and 80G certifications, NGOs need to submit the following documents:
- Certificate of Incorporation
- Memorandum of Association (MOA) and Articles of Association (AOA)
- PAN Card
- Bank Account Details
- List of Office Bearers and their PAN Cards
- Details of Charitable Activities
- Audited Financial Statements
- NOC from the Registrar of Societies
Online Registration Process
Applying for 12A and 80G registration can be completed online via the web of the Income Tax Department. For NGOs, this online procedure has made the application and approval process more efficient and comfortable.
12A and 80G Registration Fees
Registration costs for 12A and 80G vary and could alter in the future. Checking the Income Tax Department’s website for the most recent fee schedule is advised.
Final Thoughts
For NGOs in India, obtaining 12A and 80G accreditation is an important step. These certificates improve NGOs’ credibility and capacity to raise money in addition to offering tax advantages. NGOs can obtain these certifications and make valuable contributions to society by comprehending the prerequisites and completing the online registration process.
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