Section 12AB registration Application for a Trust.
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Section 12AB registration Application for a Trust
Section 80G registration Application for a Trust
Easy EMI's Transparent Pricing
Section 12AB registration Application for a Trust
Section 80G registration Application for a Trust
Name Approval Application
Easy EMI's Transparent Pricing
The Digital Signature Certificates are required for filing online e-forms related to the 12AB & 80G registration process.
NGO Darpan Registration or NITI Aayog registration is required prior to the 12AB & 80G registration. A minimum of 3 members are required for this registration. This process takes upto 3 days.
While applying for the NGO Darpan registration, we will start preparing all the e-forms and attachments that are required for 12AB & 80G registration. These forms contains all the details related to the NGO's working and objectives and needs to be prepared carefully.
The accounting for a sole proprietorship does not require a separate set of accounting records, since the owner is considered to be inseparable from the business. Nonetheless, it is always advisable to maintain records for business activities of a Proprietorship firm, in order to judge whether these operations are Once all the related documents and forms are complete, we send it to the client for verification. Upon approval from the client, we then proceed further
After completing all the formalities and documentation work, we upload e-forms along with the attachments prepared in step-4 on the Income Tax portal for approval.
The Income Tax Department allots an acknowledgement form stating 12AB & 80G registration documents are submitted and within 3 weeks, the department provides the Provisional 12AB & 80G Certificates that have a validity of 3 years. CONGRATULATIONS..... The process is complete.
The Income Tax Department grants Section-8 Companies, Trusts and Other Not-for-Profit Organisations 12AB Certificate, which is a provisional certificate valid for 3 years. Previously, the approval for 12A registration was a tedious and costly process. But, with the introduction of new reforms under this act, a newly registered NGO can now apply for a provisional 12AB registration and can avail benefits such as Tax exemption on the income earned during that fiscal year. Section 8 Companies, trusts, and non-governmental organisations (NGOs) that have obtained 12A registration are exempt from paying income tax on their surplus income. All non-profit organisations can use the 12AB registration service.
In the form of a Charitable Trust/Society/Section 8 Company, an NGO (Non-Governmental Organization) is established solely to serve non-profit humanitarian purposes, and once such entity is formally registered, it is eligible for tax exemptions, benefits, and reliefs, as well as the provision of tax deductions for donors. Any income an NGO earns, such as service/production/donation, will be treated as normal taxable income without regard to the purpose of such income unless that NGO has obtained 12AB and 80G registrations online. With the help of 12AB registration, all the income earned by the NGO is exempted from tax. Hence, such NGO can utilize all earnings in promoting it’s objectives. With the help of 80G registration, the tax on the donations offered by the donors for the upliftment of the society is exempted. Only NGOs and Charitable Organizations that meet the following criteria are eligible for the 80G and 12AB registrations:
An NGO must not earn money from a business.
They must be registered as a society, charitable trust or a Section 8 NGO.
Additionally, such Organisations must not use their assets or income for anything other than charitable purposes.
They must also keep track of their receipts and expenses in a regular book of accounts.
The trustees or any other governing body of the organisation should not be involved in any improper use of these funds.
Such organizations must not work for the benefit a specific caste or religion.
In addition, if the organisation earns money from its business, it should keep a separate book of accounts.
The benefits of section 80G was available to all the NGOs registered under Section 12AA for the exemptions in the donations recieved by the NGOs. These benefits were available on a continuous basis
Exemptions are valid for Lifetime.
Details required only for overseas contributions/donations.
80G benefits available to donors for exempt NGOs on a stable basis.
Already registered NGOs u/s 12AA will have to reapply for the same and shall have to obtain new registration u/s 12AB.
Already exempted NGOs will have a 5 year validity. While the new registrations will be provided with 3 years provisional registration.
It’s an agreement between parties, and one party holds the ownership and legal title of the entire property for the benefit of the other.
Donor-wise details to be maintained and all donors will have to be given a certificate.
80G donations now exposed to uncertainty.
The NGOs are required to reapply before 31st Decmeber, 2020 and get new registration u/s 12AA.
NGOs shall have to provide evidence to and convince Income Tax authorities of the bonafides of their activities every 5 years (3 years in case of New registrations), in order to retain their tax exemption.
NGOs will have to maintain Administrative records.
