12A & 80G Registration

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 Today Topic 12A & 80G Registration


What is 12A?

When a Trust, NGO or Non Profit Company i.e. Sec 8 company registered it needs to be get it registered with Income Tax Department for getting exemption on receipts. 12A is a exemption certificate issued by Income Tax Department under Income Tax Act 1961.


What is 80G?

It is a registration need to be done by Trust, NGO or Non Profit Company i.e. Sec 8 company after getting regitration certificate of 12A. 


Benefits?

1. Once registered under 12A no tax on receipts

2. Eligible to accept donations from donors

3. Tax benefit to donors after getting registration

4. Eligible to apply for FCRA & Niti Aayog Darpan

5. Enhancement in organisation value and trust


Time period?

Around one year after application for both registration


Governing Authority?

Income Tax Department


Regards


CS Chetan Bhutada


#promptreg #promptregtechnology #cabrabhutada #aurangabad #sambhajinagar 

#companysecretary #icsi #icai #cs #csstudents #charteredaccountant #ca #castudents #csexecutive #csprofessional #commerce #cafinal #csfoundation #gst #icaistudents #charteredaccountants  #commercestudents #cafoundation  #cajokes #calife #accountant #camotivation #cainter #cseet #accounting

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