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12A & 80G Registration (For Trust, Society, NGO or Section 8 company)
All about 12A & 80G Registration
Trust,
Society, NGO and Section 8 Company can seek registration u/s 12A to claim exemption
under Income Tax Act’ 1961, if certain conditions are satisfied. Section 12A registration deals to claim exemption of surplus of income over expenditure of NGOs (trust, society or section 8 company), here the beneficiary is NGO and whereas 80G is a certificate issued by the Income Tax Department to NGOs wherein the beneficiary is donor for claiming their donation under Income Tax.
The
primary objective behind the grant of 80G Registration is to motivate more donors
to NGOs/organizations for donating funds for charitable activities. Furthermore,
donors receive a 50% tax exemption on his total taxable income. For availing
this exemption, the donor must asked for the stamped receipt against the donation
paid to the NGO.
The
income tax has the power to approve or reject both the certificate if they
found any dissatisfaction towards the NGO activities or the objectives are not aligned to the charitable activities defined under the Act. The organizations shall
not be able to apply for an 80G certificate if they have linked with religious
based and caste-creed activities. NGOs registered under 12A do
not have to pay Income tax for the period they are eligible under registration upon meeting conditions mentioned in the Act.
Process
of registration shall be made completely electronic as per the latest budget 2020, under which unique
Registration Number (URN) shall be allotted to all the new and existing
charitable institutions. Also NGOs will have to file their annual return against the donations received by them in specified format.
Validity of Registration
Registration
under 12A & 80G will be valid for 5 years as per the latest amendment. Earlier the registration was valid for the life time, however now it has to be renewed after every 5 years.
Documents Required
- Details of Members of NGO
- Copy of Pan Card of NGO
- Copy of MOA/AOA or Trust Deed or Society Deed
- Copy of ITR and Financial Statements of Last 3 Years (if in existence)
- Copy of Registration Certificate of NGO (COI/Deed)
- A complete list of welfare activities
How EzeeStartup can help you
We have experts who can get your 80G & 12A registration and provide required consultancy on subject in simple, cost-efficient, quicker way which will ease the process of getting important registration.
Get
in touch with us for detailed information on +91-8447037100