How can I get 80G exemption for NGO?

Conditions to be fulfilled under Section 80G a) The NGO should not have any income which are not exempted, such as business income. If, the NGO has business income then it should maintain separate books of accounts and should not divert donations received for the purpose of such business.

What is 80G certificate for NGO?

80G Registration under Section 80G of the Income Tax Act provides benefits to the donor of an NGO. The donor gets financial benefits in his taxable amount of their income. The Income Tax Department issued the 80G certificate to a non-governmental organization (NGO), a charitable trust, or a section 8 company.

Can a new NGO apply for 80G?

A newly registered ngo can also apply for 80g registration. The following documents are required for 80g registration. Section 12a and 80g is of a great relief. NGOs do not have to pay tax for the entire lifetime if it gets registered under section 12a.

Is NGO tax exempt?

NGOs can get tax exemption simply by getting itself registered and fulfilling all the required formalities. The person or organization will get a deduction of 50\% of donation amount from the Taxable Income. An NGO will receive Government Funding, only if registered under section 12A & 80G.

What is 12A certificate for NGO?

12A registration is a one-time registration which is granted by the Income Tax Department to trusts and other not for profit organisations. The purpose of the registration is to be exempted from the payment of income tax. 12A registration is generally applied for immediately after incorporation.

What is Form 10AC?

Form No. 10AC – Order for Registration for Charitable & Religious Societies/Trusts. Income Tax.

Does PLI come under 80C?

The Insurance policies offered through PLI have tax benefits which are predominantly under Section 80C which basically states that a policyholder having a policy issued on or before 31st March 2012 will be eligible to avail a tax deduction of 20\% of the sum assured.

How do I know if I have 80G exemption?

This deduction can only be claimed when the contribution has been made via a cheque or a draft or in cash. But the deduction is not allowed for donations made in cash exceeding Rs 10,000. The donations above Rs 2,000 should be made in any mode other than cash to qualify as a deduction under section 80G.

What is 12A 80G FCRA?

12A registration is a one-time registration which is granted by the Income Tax Department to trusts and other not for profit organizations. The purpose of the registration is to be exempted from the payment of income tax. The fund used for charitable purposes is considered to be the application of the income.

How can an NGO get 12A and 80G?

Process:

1. Registration Certificate and MOA /Trust Deed.
2. NOC from Landlord (where the registered office is situated)
3. Copy of PAN card of NGO.
4. Copy of Electricity Bill / House tax Receipt /Water Bill.
5. Evidence of welfare activities carried out & Progress Report since inception or last 3 years.

What is 12A and 80G?

12A and 80G are the two registrations granted by Income Tax Department to NGOs to allow them in Tax Exemption and permitting Deduction on Donations by the donors. A 12A and 80G registered NGO is more acceptable to receive prosperous funding and various tax reliefs.

How can I get 80G exemption certificate?

To get an 80G certificate, the organisation has to fill in Form 10G and attach its activity report for the past one to three years, with an audited statement for the past three years, or even from the date of establishment in certain cases. The form 80G registration is available on the IT department website.